MIL OSI Translation. Government of the Republic of France statements from French to English –
Source: IMF in French
Two women, one of whom wears a mask, take a walk in Tehran, Iran. COVID-19 has exacerbated budgetary tensions in the Middle East and Central Asia region. (photo: FarzadFrames iStock via Getty)
Jeta Menkulasi, Sergejs Saksonovs, Tucker Stone and Ling Zhu Middle East and Central Asia Department
The COVID-19 pandemic and the economic crisis that followed called for emergency fiscal measures due to the squeeze in revenues. Many countries in the Middle East and Central Asia region, which were already vulnerable before the pandemic, are now in dire financial straits.
Building on the latest Regional economic outlook IMF, here are seven things you need to know about the looming fiscal challenges for the region:
Oil exporting and importing countries in the Middle East and Central Asia region
Fifteen countries in the Middle East and Central Asia region are considered to be oil exporters (Algeria, Saudi Arabia, Azerbaijan, Bahrain, United Arab Emirates, Iran, Iraq, Kazakhstan, Kuwait, Libya, Oman, Uzbekistan, Qatar, Turkmenistan, Yemen). Seventeen countries are considered to be oil importers (Afghanistan, Armenia, West Bank and Gaza, Djibouti, Egypt, Georgia, Jordan, Kyrgyzstan, Lebanon, Morocco, Mauritania, Pakistan, Somalia, Sudan, Syria, Tajikistan, Tunisia).
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.