Seven Things to Know About Fiscal Challenges in the Middle East and Central Asia
Two women enjoy a stroll in Tehran, Iran. COVID-19 has exacerbated fiscal challenges in the Middle East and Central Asia. (photo: FarzadFrames iStock by Getty)
By Jeta Menkulasi, Sergejs Saksonovs, Tucker Stone, and Ling Zhu IMF Middle East and Central Asia Department
The COVID-19 pandemic and the ensuing economic crisis have required emergency fiscal measures as revenues have dried up. Many countries in the Middle East and Central Asia, which were already vulnerable before the pandemic, are now in a precarious fiscal position.
Fifteen countries in the Middle East and Central Asia region are classified as oil exporters (Algeria, Azerbaijan, Bahrain, Iran, Iraq, Kazakhstan, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Turkmenistan, United Arab Emirates, Uzbekistan, and Yemen), while 17 are classified as oil importers (Afghanistan, Armenia, Djibouti, Egypt, Georgia, Jordan, Kyrgyz Republic, Lebanon, Mauritania, Morocco, Pakistan, Somalia, Sudan, Syria, Tajikistan, Tunisia, and West Bank and Gaza).
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