IMF calls for oil-exporting countries to diversify their economies

02/05/2017-14:47


International Monetary Fund called Tuesday, the oil-exporting countries to continue to diversify their economies, urging them to continue their efforts to reduce the deficit and build on their progress in curbing spending.

The IMF said in a report published on the website and seen by "economy" news "on oil-exporting countries in the region continue to work to diversify their economies away from hydrocarbons, focus redirected to non-oil sectors to ensure consistent and sustainable growth."

Regional Economic Outlook report for the Middle East and Central Asia by the Fund today in Dubai, that these countries should continue to implement their plans to diversify their economies and implement policies in support of employment and productivity, such as education reforms and infrastructure.

She noted that, despite the narrow fiscal deficit in oil-exporting countries have to continue efforts to reduce the deficit and build on their progress in curbing spending, as in the case of Algeria and Bahrain.

According to the report, the fiscal deficit levels was expected to decline from 10% of GDP in 2016 to less than 1% in 2022, representing a significant improvement helps build endurance.

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