An Analysis of MENA Region Economy Performance in Prevailing Global Economic Conditions

Abstract

To survive in present volatile economic conditions is a herculean task. Global economic circumstances, socio political conditions play important role in growth and development of economies. Evaluating economies in prevailing condition requires effective approach and judicious analysis. All the major economies, developing and underdeveloped economies are performing below to their potential and are tilted to the downslide. MENA economy is struggling due to war disturbance and continuously performing below to its expectation and its overall growth touched the historic low. Its economy slowed down drastically and its GDP is below to world GDP. It's fiscal and current deficits worsened and rose above 3 percent of the GDP, its oil exporters, public finance, public expenditure and job market, Banking system and FDI declined and facing high fiscal adjustments. In some parameters MENA economy is better than world set standards and in many it is far below. The carried out study is secondary data based and for the purpose authors evaluated and analysed the economic performance of MENA and tried to identify the risk factors which are potent enough to impact MENA economic growth. The outcome of the study revealed the fact that MENA economies are in intense heat and facing multiple economic complexities which translated into overall decline. In last conclusion has been given.