How Transparency Can Help the Middle East and North Africa

Rabah Arezki, Daniel Lederman, Amani Abou Harb, Nelly El-Mallakh, Rachel Yuting Fan, Asif Islam, Ha Nguyen, Marwane Zouaidi

Apr 1, 2020 · World Bank, MENA Economic Update (April 2020)

Paper (PDF)

Abstract

Transparency about critical economic issues — such as public debt and employment — will be the key to driving growth and enhancing trust in government in the Middle East and North Africa (MENA) region. The need for greater transparency comes as the MENA region faces unprecedented dual shocks from the COVID-19 (Coronavirus) pandemic and the collapse in oil prices. The shocks have exacerbated already slow economic growth in the region, due, in part, to lack of data transparency. As of April 1, changes in forecasts implied that the costs for MENA were about 3.7% of the region's 2019 GDP (approximately US$116 billion) compared to 2.1% as recently as March 19.

Cite

Arezki, Rabah, Daniel Lederman, Amani Abou Harb, Nelly El-Mallakh, Rachel Yuting Fan, Asif Islam, Ha Nguyen, and Marwane Zouaidi. 2020. “How Transparency Can Help the Middle East and North Africa.” World Bank, MENA Economic Update (April 2020).

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