TheMoody’s Investors Service outlook for the Levant and North Africa is “broadly stable” for 2018, due to structural reforms, global economic growth and a simmering down of regional conflicts across the region. Morocco and Egypt are set to witness the region’s highest economic growth this year. Morocco, which recently liberalised its monetary policy, has a positive outlook, while Tunisia, which has been rocked by anti-austerity protests this month, has a negative outlook. Global economic growth will give a boost to regional exports and services, including tourism, remittances and investment flows in 2018, with a rebound in oil prices providing further support, Moody’s predicted. However, the Levant and North Africa continue to suffer from structural weaknesses, especially in the form of inefficient labor markets and weak competitiveness, the agency said.

Source: The North Africa Journal January 16, 2018 14:15 UTC