Since then, gross domestic product (GDP) per capita has grown by only 0.3% a year in the MENA region. In addition, the Russian invasion of Ukraine affects the MENA economies through higher hydrocarbon prices, risks to food security and declining tourism. Management practices lag behind benchmark countries, with a decline in average scores in all MENA countries since 2013. Customs and trade regulations appear to be more severe barriers for firms in the MENA region than in other countries. The European Bank for Reconstruction and Development (EBRD) ( is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents.

Source: The North Africa Journal June 12, 2022 07:20 UTC