Middle East and North Africa (2014) :(Positive signals to Jordan)

    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

    to rise.

    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.