Plagued by war, violence, and low oil prices, economies in the
“No part of the region has escaped the impacts of instability, which have ranged from devastating people's lives to interrupting trade and discouraging investment,” said
While the region's overall growth is expected to decline as a result of a slowdown in the economies of oil exporters, oil importers should perform better with growth picking up to 3.5 percent in 2017 from 2.9 percent a year before. Despite a sluggish overall economic prospect in the region, the report points to some positive signs of recovery in countries like
“The prospects for a recovery in growth and faster development in the
The MENA Economic Monitor emphasizes that the sustainability of economic recovery in the region will depend on the effectiveness of any future peace-building and reconstruction efforts. A special section of the new report focuses on the impacts of the conflicts in
“Civil wars, coupled with an economic slowdown, have created newly vulnerable groups and significantly weakened public services such as health and education,” said
To illustrate one major aspect of the reconstruction challenge, recent
As important as economic recovery, it is critical that reconstruction efforts be geared toward consolidating peace to avoid the possible resumption of conflict. The report recommends that any future reconstruction process be inclusive and internally-driven, based on a national vision that the donor community supports rather than leads. Noting that the civil wars involve sectarian conflict, the report finally calls on post-conflict governments to consider giving greater prerogatives to sub-national entities as a way of preserving territorial integrity.
“Peace in the
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