Yemen News Agency (SABA)
Home      Local   International   Saudi Aggression War against Yemen   About Yemen   Civil Society   Economy   About Saba  
Search | Advance Search
President calls for ending aggression forces’ control over Yemeni oil
[21 March 2018]
Political bureau of Ansar Allah offers his condolences to the death Assayed al-Moayed
[20 March 2018]
President meets with a number of women leaders in Sanaa
[18 March 2018]
President stresses on coordinating int’l orgs’ efforts in Yemen
[17 March 2018]
Arrest two tons of drugs
[11 March 2018]
  Saudi Aggression War against Yemen
Saudi jets wage raid on Hodeidah
[24 March 2018]
Army shelling hits gathering of Riyadh's mercenaries in Lahj
[24 March 2018]
Army destroys military vehicle of mercenaries in Jawf
[24 March 2018]
Two citizens killed in Saudi airstrike in Hodaida
[24 March 2018]
Saudi warplanes launches 11 raids on Hajjah
[24 March 2018]
Army carries heavy losses in enemy ranks, it's mercenaries
[18 March 2018]
Saudi-US aggression war jet launch 26 raids on number of Yemeni provinces
[17 March 2018]
Report: Dozens of Saudi soldiers, mercenaries killed in military operations over past 48 hours
[12 March 2018]
8 civilians killed, 13 injured in Saudi airstrikes on Yemeni provinces
[09 March 2018]
Report: Army attacks against Saudi troops over 24 hours
[22 February 2018]
Yemeni missile force unveils missile Badr 1
[22 March 2018]
Official warns against using Yemen as int’l conflict field
[17 March 2018]
Yemen's FM meets with new UN envoy
[13 March 2018]
WHO Cargo plane arrives to Sana'a airport
[12 March 2018]
FM meets Resident Representative of ICRC
[12 March 2018]
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.

  more of (Reports)
UPDATED ON : Sat, 24 Mar 2018 14:26:46 +0300