Volatile growth, high universal subsidies, and loss-making state-owned enterprises expose many low- and middle-income economies in the Middle East, North Africa, and Pakistan to such fiscal risks. As we explain in a new paper, the “MENAPEG” region—a group that includes economies in the Middle East, North Africa and Pakistan but excludes high-income Gulf countries—is especially vulnerable to fiscal risks. Sources of risksThere are multiple factors behind the region’s relatively high exposure to fiscal risks. Given various uncertainties, fiscal risks in the Middle Eastern and North African countries cannot be fully avoided. He was the public financial management (PFM) advisor at the IMF Middle East Technical Assistance Center in Beirut, Lebanon, between 2011 and 2016.

Source: The North Africa Journal June 12, 2023 06:24 UTC