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FINANCIAL NEWS
WB: MidEast economies to be driven by oil prices
18 Jun 2010
(MENAFN) The World Bank said that the Middle East and North Africa (MENA) region will continue to be driven by　oil prices and economic activity in the European Union, the region�s main trade partner, Petra News Agency reported.
According to the World Bank�s report, most diversified regional economies in Egypt, Jordan, Lebanon, Morocco and Tunisia were directly impacted by the global financial crisis which hit principal exports markets in the European Union and, to a lesser extent, in the US.
The report noted that developing countries are not immune to the effects of a high-income sovereign debt crisis. But it expected several economies to continue to do well if they focus on growth strategies, make it easier to do business, or make spending more efficient.
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