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Republican decree appoints minister of interior
[13 December 2017]
FM, UN Humanitarian Coordinator discuss cooperation aspects
[13 December 2017]
President, FM reviews national, international developments
[10 December 2017]
President meets sheikhs, dignitaries of Mahweet province
[10 December 2017]
President, PM discuss current situation on national scene
[09 December 2017]
  Saudi Aggression War against Yemen
Hostile warplanes hit house in Hodaida
[13 December 2017]
Aggression kills two civilians in Taiz
[13 December 2017]
Two citizens killed, six injured in Saudi airstrike on Saada
[13 December 2017]
Two aggressive raids hit Serwah district in Marib
[13 December 2017]
Saudi aggressive airstrike destroys house in Saada
[13 December 2017]
Feature: Untold story on Yemen's tourism, green, peaceful city, safe home for all IDPs■
[12 November 2017]
Report: 49 Yemeni civilians killed in 212 Saudi aggression airstrikes in six days
[05 April 2017]
Roundup: 1107 Saudi airstrikes kill 135 Yemeni civilians in March
[29 March 2017]
Roundup: Saudi kills 15 Yemeni civilians in 112 airstrikes on Yemen in 3 days
[25 March 2017]
Report: Saudi kills 68 in 301 airstrikes on Yemen in 7 days
[23 March 2017]
Yemen strongly condemns terrorist attack in Egypt
[25 November 2017]
President al-Sammad sends condolences to Sisi over deadly attack on Egypt mosque
[25 November 2017]
FM meets WFP official
[03 October 2017]
FM meets Russian charge d'affaires
[03 October 2017]
Yemen strongly condemns Las Vegas terrorist attack
[03 October 2017]
Growth in MENAP depends on oil production increase, IMF report

WASHINGTON, Oct 11 (Saba)--Economic growth is expected to decline in the Middle East and North Africa Region, Afghanistan and Pakistan (MENAP) this year due to the drop in oil production, uncertainty of political transitions and security issues, a recent IMF report has said.

Of course, the oil production drop has been blamed on a drop in global demand and interruption in crude supply, the report noted.

Economic growth dropped in oil rich countries in the first half of this year and Saudi oil production is expected to witness a slight drop throughout the year, according to the report, which also pointed that internal and external reasons represent key risks in this region.

And these risks are the main reason for negative developments including social chaos, soaring unemployment and inflation.

The report said that making economic gains depends, however, on increasing oil production and enhancing trust between oil importers and Middle East countries experiencing transitions.

Expecting a growth average of 2 to 3 percent this year, the report said the situation will improve in the region next year and the growth rate my increase to 4 percent. At a medium-term, economic growth depends on political and social stability, it said.

Furthermore, the report pointed that hydrocarbon production is expected to decline by 1% this year; the circumstances in Libya and Iran are to blame, it said.

Amid the political uncertainty and conflicts in the region, countries need to create jobs, make progress on fiscal control and structural reforms; and especially, oil exporters need to enhance their flexibility toward shocks of oil imports and to diversify other economic activities including the absorption of increasing workforce.

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UPDATED ON : Wed, 13 Dec 2017 20:06:41 +0300