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MENA Quarterly Economic Brief, January 2015 : Plunging Oil Prices

ACCOUNTING ASSETS AVAILABILITY AVERAGE OIL PRICE BALANCE BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BARREL BARRELS OF OIL BARRELS PER DAY BILL BILLS BLACK MARKET BLACK MARKET EXCHANGE RATE BORROWING REQUIREMENT BUDGET DEFICIT BUDGET DEFICITS BUFFERS CAPACITY UTILIZATION CAPITAL INVESTMENT CAPITAL MARKETS CASH TRANSFER CASH TRANSFERS CENTRAL BANK CORRELATION COEFFICIENT COST OF ENERGY COUNTRY DUMMIES CREDIT AGENCIES CRUDE OIL CRUDE OIL EXPORTS CRUDE OIL IMPORTS CRUDE OIL PRICES CRUDE OIL PRODUCTION CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT BALANCES CURRENT ACCOUNT DEFICIT DEBT LEVELS DEBT SERVICE DEPENDENT VARIABLE DEPRECIATION DEVELOPING COUNTRIES DIESEL DIRECTION OF TRADE DISBURSEMENT DISBURSEMENTS DISTRIBUTION OF OIL DOMESTIC BANKING DOMESTIC BANKING SYSTEM DOMESTIC DEBT DOMESTIC INFLATION DOMESTIC OIL DOMESTIC OIL PRODUCTION DOWNWARD PRESSURE DRILLING DRILLING ACTIVITY DRILLING RIGS ECONOMIC GROWTH ELECTRIC POWER ELECTRICITY ELECTRICITY TARIFFS ENERGY BALANCE ENERGY MIX ENERGY PRICES ENERGY REVIEW EQUIPMENT EUROBOND EXCHANGE RATE EXCHANGE RESTRICTIONS EXPENDITURE EXPORT EARNINGS EXPORT MARKETS EXPORT REVENUES EXPOSURE EXTERNAL BALANCES EXTERNAL DEFICITS EXTERNAL FINANCING EXTERNAL FUNDING FINANCES FISCAL BALANCE FISCAL BALANCES FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICY FISCAL POSITION FIXED EFFECTS FOOD PRICE FOOD PRICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE RESERVES FOREIGN RESERVES FUEL FUEL OIL FUEL PRICE FUEL PRICES FUELS FUTURES FUTURES MARKET FUTURES MARKETS GAS GAS GRID GAS IMPORTS GASOLINE GENERATING CAPACITY GLOBAL DEMAND GLOBAL ECONOMY GOLD GOVERNMENT BUDGET GOVERNMENT REVENUES GOVERNMENT SAVING GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HOLDING IMPORT INFLATION INFLATION FORECAST INFLATION RATE INFLATIONARY PRESSURES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKET INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL MARKET INTERNATIONAL OIL PRICES INTERNATIONAL PRICES INTERNATIONAL RESERVES ISSUANCE LABOR FORCE LEVEL OF CONFIDENCE LOAN LOW OIL PRICES MACROECONOMIC STABILIZATION MARKET ACCESS MARKET PRICES MARKET SHARE MILLION BARRELS MILLION BARRELS PER DAY MONETARY AUTHORITIES MONETARY POLICY MULTIPLE CURRENCY MULTIPLE CURRENCY PRACTICE NATURAL GAS NET OIL NET OIL EXPORTS NOMINAL EXCHANGE RATE OIL OIL ACCOUNTS OIL AND GAS OIL AND GAS SECTOR OIL COMPANIES OIL CONSUMER OIL EXPORT OIL EXPORT REVENUES OIL EXPORTERS OIL EXPORTING COUNTRIES OIL EXPORTS OIL FIELDS OIL IMPORTER OIL IMPORTERS OIL IMPORTS OIL INDUSTRY OIL MARKET OIL PIPELINES OIL PRICE OIL PRICES OIL PRODUCERS OIL PRODUCING OIL PRODUCING COUNTRIES OIL PRODUCTION OIL REVENUE OIL REVENUES OIL-PRODUCING COUNTRIES OPEC PARALLEL MARKET PEAK DEMAND PEG PENSION PENSION FUND PERMANENT SHOCK PETROLEUM PETROLEUM IMPORTS PETROLEUM PRODUCT PETROLEUM PRODUCT PRICES POLITICAL INSTABILITY PORTFOLIO PORTFOLIO INFLOWS POWER POWER COMPANY PRICE HIKES PRICE INCREASE PRICE OF OIL PRIVATE CONSUMPTION PRIVATE SECTOR PRODUCTION COSTS PUBLIC DEBT PUBLIC INVESTMENT PUBLIC SPENDING RECESSION REMITTANCE REMITTANCES RESERVE RETURN SHALE OIL SLOW GROWTH SLOWDOWN SPOT PRICE SPOT PRICES STOCK MARKET STOCK MARKET INDEX STOCKS SUPPLY SHOCK SUPPLY SIDE SUPPLY-SIDE SURPLUSES TAX TOTAL DEBT TOTAL EXPORT TOTAL EXPORTS TOTAL IMPORTS TRADE BALANCE TRADE BALANCES TRADE DEFICIT TRADE STATISTICS TRADE SURPLUS TRADING TRADING PARTNERS TRANCHES TRANSPORTATION COST TRANSPORTATION COSTS UNCERTAINTY UNEMPLOYMENT RATE UNEMPLOYMENT RATES WORLD PRICES
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Washington, DC: World Bank
Middle East and North Africa | North Africa | Middle East
2015-01-26T15:07:22Z | 2015-01-26T15:07:22Z | 2015-01

This issue of the MENA Quarterly Economic Brief focuses on the implications of low oil prices for eight developing countries, or the MENA-8 (oil importers: Egypt, Tunisia, Lebanon and Jordan and oil exporters: Iran, Iraq, Yemen and Libya) and the economies of the GCC (Gulf Cooperation Council), who play a major role in providing funds in the form of aid, investment, tourism revenues and remittances to the rest of the countries of the region. We make the following assumptions about the future price of oil: (i) The price will average $65 Brent p/b in 2015; (ii) a higher price $78 Brent p/b will be used for comparison analysis. As with other economic variables, there is uncertainty associated with the future price of oil, which adds to the error involved in projections. The data for 2015 2017 in the figures and tables are projections. These projections are based on statistical information available through early January 2015.

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