WB ANNUAL REPORT 2014
The Middle East and North Africa remains a region in political transition. Tunisia and the
Republic of Yemen witnessed positive changes. Jordan, Morocco, and the Gulf Cooperation
Council (GCC) countries maintained stability and focused on preserving and furthering social
and economic gains. The Arab Republic of Egypt has seen the inauguration of a new president
and government, and will focus on economic and fiscal priorities. Violence increased in Iraq
and the Syrian Arab Republic, with large influxes of refugees to Lebanon and Jordan.
Economic growth in the region is projected to resume in 2014 and reach 1.9 percent.
Oil exporters, especially the GCC countries, are expected to lead the recovery. Large stimulus
packages in the GCC states, together with increased flows of funds to the region, particularly
to Egypt and Jordan, will boost regional growth rates as capital and current spending continue
Extreme poverty in this region remains low. However, vulnerability to poverty is very high,
with 53 percent of the population living on just $4.00 a day.