{
  "title": "Economic Diversification in Oil-Exporting Arab Countries",
  "publication": "Policy Papers, April 29, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/economic-diversification-in-oil-exporting-arab-countries-pp5038",
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  "summary": "countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges.",
  "sections": [
    {
      "heading": "Key findings and challenges",
      "content": "- The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment.\n- Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles.\n- Over-reliance on oil also exacerbates macroeconomic volatility.\n- The current environment of likely durable low oil prices has exacerbated these challenges.\n- Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations."
    },
    {
      "heading": "Policy implications and prerequisites",
      "content": "- Macro-economic stability is a key prerequisite for economic diversification.\n- Supportive regulatory and institutional frameworks are also key prerequisites for economic diversification."
    },
    {
      "heading": "Subjects covered",
      "content": "- Economic conditions\n- Employment\n- Labor market reforms\n- Nonoil sector\n- Oil exporting countries\n- Oil prices\n- Oil revenues\n- Population\n- Private sector\n- Public sector\n\nSource: IMF policy paper landing page for \"Economic Diversification in Oil-Exporting Arab Countries\" (April 29, 2016).\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/economic-diversification-in-oil-exporting-arab-countries-pp5038"
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    "Published: April 29, 2016",
    "Series: Policy Papers",
    "The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment.",
    "Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles.",
    "Over-reliance on oil also exacerbates macroeconomic volatility.",
    "The current environment of likely durable low oil prices has exacerbated these challenges.",
    "Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations.",
    "Macro-economic stability is a key prerequisite for economic diversification.",
    "Supportive regulatory and institutional frameworks are also key prerequisites for economic diversification.",
    "Economic conditions",
    "Employment",
    "Labor market reforms",
    "Nonoil sector",
    "Oil exporting countries",
    "Oil prices",
    "Oil revenues",
    "Population",
    "Private sector",
    "Public sector",
    "**Executive Summary**"
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