Oil news: Middle East exporters are under pressure from volatile prices, say the IMFOil giants in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region are being squeezed by slowing economic expansion and are forecast for growth to shift down a gear for the remainder of 2019. Crude prices sparked fiscal and economic reforms in 2014 after a slump in the cost of oil hit state finances and hampered growth for many countries in the region. But the IMF warned unemployment remains high and overall growth is projected to remain subdued this year, according to the group’s Regional Economic Outlook. MENAP exporters are braced for growth to slow to 0.4 percent in 2019, down from 0.6 percent last year. Oil news: Oil giants in the MENAP region are being squeezed

Source: The North Africa Journal April 29, 2019 12:02 UTC