{ "title": "Regional Economic Outlook Update: Middle East and Central Asia", "publication": "Middle East and Central Asia, July 13, 2020", "sourceUrl": "https://www.imf.org/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca", "canonical": "https://www.imf.org/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca", "overlayPath": "/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/index.md", "summary": "The Middle East and Central Asia (MCD) region has reacted to the global COVID-19 pandemic with swift and stringent measures that have saved lives. However, these policies have also had a large impact on domestic economic activity.", "sections": [ { "heading": "Overview and growth projection", "content": "- Growth in the region is projected at –4.7 percent in 2020, 2 percentage points lower than in April 2020.\n- The region reacted to the global COVID-19 pandemic with swift and stringent measures that have saved lives, but these measures have had a large impact on domestic economic activity.\n- Several countries have begun reopening in past weeks, and a recent uptick in activity has occurred; rising infection numbers may pose risks." }, { "heading": "Main shocks and risks", "content": "- A sharp decline in oil prices together with production cuts among oil exporters.\n- Disruptions in trade and tourism.\n- Unusually high level of uncertainty regarding:\n - the length of the pandemic,\n - its impact on firm closures.\n- Downside risks include social unrest and political instability.\n- Potential renewed volatility in global oil markets dominates the outlook." }, { "heading": "Policy priorities and recommendations", "content": "- Immediate priority: ensuring strong health systems.\n- Support the recovery and set up resilient and well-targeted social safety nets.\n- As the pandemic wanes:\n - facilitate recovery by easing the reallocation of workers and resources, as needed,\n - resume gradual fiscal adjustment and rebuilding policy buffers.\n- Multilateral support can play a key role in helping countries surmount these shocks.\n\nRegional Economic Outlook Update: Middle East and Central Asia — July 2020\n\n---\n\n Content in this bundle\n\n- July 2020 Regional Economic Outlook Update: Middle East and Central Asia\n - July 2020 Regional Economic Outlook Update: Middle East and Central Asia (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - July 2020 Regional Economic Outlook Update: Middle East and Central Asia (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Five Charts That Illustrate COVID-19’s Impact on the Middle East and Central Asia\n- Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.\n- Modify your profile\n\nSource: https://www.imf.org/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca" } ], "bullets": [ "[Markdown version](/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/index.md)", "[Structured JSON version](/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/index.json)", "[Bundle manifest](/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/bundle-manifest.json)", "Published: July 13, 2020", "Series: Middle East and Central Asia", "Growth in the region is projected at –4.7 percent in 2020, 2 percentage points lower than in April 2020.", "The region reacted to the global COVID-19 pandemic with swift and stringent measures that have saved lives, but these measures have had a large impact on domestic economic activity.", "Several countries have begun reopening in past weeks, and a recent uptick in activity has occurred; rising infection numbers may pose risks.", "A sharp decline in oil prices together with production cuts among oil exporters.", "Disruptions in trade and tourism.", "Unusually high level of uncertainty regarding:", "Downside risks include social unrest and political instability.", "Potential renewed volatility in global oil markets dominates the outlook.", "Immediate priority: ensuring strong health systems.", "Support the recovery and set up resilient and well-targeted social safety nets.", "As the pandemic wanes:", "Multilateral support can play a key role in helping countries surmount these shocks.", "**July 2020 Regional Economic Outlook Update: Middle East and Central Asia**", "[Five Charts That Illustrate COVID-19’s Impact on the Middle East and Central Asia](https://www.imf.org/en/news/articles/2020/07/14/na071420-five-charts-that-illustrate-covid19s-impact-on-the-middle-east-and-central-asia)", "[Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.](https://www.imf.org/en/email-subscription/index)", "[Modify your profile](https://www.imf.org/en/email-subscription/login)" ], "related": [ { "title": "July 2020 Regional Economic Outlook Update: Middle East and Central Asia", "role": "document", "sourceUrl": "https://www.imf.org/-/media/files/publications/reo/mcd-cca/2020/update/july/english/mreoeng202007.pdf", "summary": { "path": "/-/media/files/publications/reo/mcd-cca/2020/update/july/english/mreoeng202007.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/reo/mcd-cca/2020/update/july/english/mreoeng202007.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/index.md", "json": "/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/index.json", "bundleManifest": "/en/publications/reo/meca/issues/2020/07/13/regional-economic-outlook-update-menap-cca/bundle-manifest.json" }, "generatedAtUtc": "2026-09-06T04:31:17.674Z" }