The 2018 outlook for sovereign ratings in the Levant and North Africa region is broadly stable, reflecting the improved global growth dynamics, ongoing structural reforms, and winding-down of regional conflicts, Moody's Investors Service said in a report. "The improved global growth dynamics, ongoing structural reforms, and gradual re-opening of trade routes in former conflict areas together with a planned reconstruction drive will underpin GDP growth in 2018. As of 16 January 2018, four sovereigns in the Levant and North Africa region hold stable rating outlooks, while one carries a positive (Morocco) and another a negative outlook (Tunisia). Higher global growth will drive an increase in the region's exports, including tourism, and remittances and investment flows in 2018. Moody's also forecasts GDP growth to pick up in Iraq, Jordan and Lebanon in 2018 to 2.9 per cent, 2.5 per cent, 2.8 per cent, respectively.

Source: The North Africa Journal January 17, 2018 07:30 UTC