The recovery in global activity anticipated in the April MENA Economic Monitor is on track. The global economy is projected to grow by 2.7 percent in 2017 and 2.9 percent in 2018–19. The uptick in global growth reflects strong domestic demand and exports. Industrial production and trade are picking up, strengthening confidence. The recovery is led by a pickup in growth in the Euro Area, China, Russia, and Brazil. Eastern Europe and Central Asia continue to benefit from the recovery in the Euro Area. After years of slow growth, economic activity in oil exporters is starting to improve because the oil market has reached some stability, although at low prices. In oil-importing countries, activity continues to be robust. Inflation has remained low. However, as actual growth continues to exceed potential growth, increasing inflation and closing output gaps could lead to the prospects of less accommodative monetary policy, which could dampen global growth going forward.
Details
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Author
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Document Date
2017/10/01
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Document Type
Working Paper
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Report Number
119941
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2017/10/11
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Disclosure Status
Disclosed
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Doc Name
Refugee crisis in MENA : meeting the development challenge
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Keywords
small and medium size enterprise;maternal and child health;demand for health services;large numbers of refugees;female labor force participation;active labor market program;early marriage for girls;language of instruction;current account balance;barrels per day;Early childhood education;influx of refugees;number of refugees;country of origin;Access to Education;formal education system;global public good;public health system;conditional cash transfer;foreign direct investment;social protection policy;privileges and immunity;impact of refugees;maternal mortality rate;local labor market;world health organization;world food programme;freedom of movement;literacy and numeracy;Regional Economic Development;disease control effort;international financial institution;effective monitoring system;Early Childhood Development;Internally Displaced Person;wages for low;loss of confidence;regional economic integration;high debt levels;infant mortality rate;basic health indicators;cash transfer program;cost of child;effect on employment;low enrollment rate;corporate income tax;fiscal consolidation effort;price for oil;barrel of crude;increase in debt;increase in volatility;quality of public;global risk aversion;types of good;skill training programs;labor market development;pure public good;per capita basis;high youth unemployment;oil exporter;refugee child;oil production;native worker;potential output;oil price;education service;oil importer;Host Communities;refugee student;nonformal education;refugee crisis;Education Services;international community;global growth;fiscal balance;oil sector;human capital;psychosocial support;quality education;enrollment fee;registered refugees;Civil War;Public Spending;long-term growth;commodity market;excess supply;refugee population;Business Climate;refugee influx;refugee community;projection period;health expenditure;industrial production;short period;forced displacement;live birth;supply side;unregistered refugees;cooperative agreement;fiscal space;health outcome;life expectancy;voluntary repatriation;official statistic;political context;austerity measures;private good;emergency need;health systems;science class;national textbook;children's needs;population distribution;effective strategy;supply-side constraints;school child;clean water;education need;altruistic good;local population;agricultural output;global demand;Public Services;Fragile Countries;Labor Law;exponential growth;education opportunity;merchandise export;exchange rate;Exchange Rates;attending school;learning material;wasteful energy;noncommunicable diseases;Antenatal Care;healthcare services;free health;pregnant woman;refugee numbers;heart disease;Infectious Disease;hospital bed;remote area;quality care;financial shock;public enrolment;displaced people;public education;student population;security threat;increased supply;hospital service;macroeconomic indicator;modern world;obstetrical care;moral obligation;life-threatening emergencies;cancer treatment;original work;output growth;historical data;sole responsibility;copyright owner;Fiscal policies;electricity subsidies;commercial purpose;Public Goods;small states;Violent Conflict;political turmoil;data system;international cooperation;oil output;real gdp;global economy;domestic demand;increased export;competition policy;debt burden;non-governmental organization;advanced economy;youth bulge;labor regulation;conflict countries;investment climate;global recovery;high volatility;metal price;policy uncertainty;Macroeconomic Policy;fiscal policy;positive spillover;Poverty Measurement;public finance;electric vehicle;global development;global supply;humanitarian aid;cost efficiency;oil inventory;increased trade;development policy;richer countries;debt issuance;short-term prospects;private consumption;financial challenge;vulnerable countries;foreign reserve;crude production;refugee movement;geopolitical risks;future earnings;school performance;educational performance;cognitive function;empowering women
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Citation
Devarajan,Shantayanan;Mottaghi,Lili;
Refugee crisis in MENA : meeting the development challenge (English). Middle East and North Africa (MENA) Economic Monitor Washington, D.C. : World Bank Group. https://documents.worldbank.org/curated/en/785071506105322669/Refugee-crisis-in-MENA-meeting-the-development-challenge