Reforms are starting to yield positive results. Oil prices and production have been volatile, and uncertainties in the global oil market continue. Promoting non-oil growth and creating jobs for Saudi nationals remain key challenges. Non-oil growth is expected to strengthen further this year and...

The government has in recent years implemented large-scale investments to develop transport and logistics infrastructures. Combined with business climate reforms, this development strategy has fueled strong growth and positioned Djibouti well to become a regional trade and logistics hub....

The political transition has increased the focus on social conditions and regional and rural development. Growth has been buoyed by new spending, retail credit, and oil and gas investments. Inflation has picked up, and the current account has deteriorated. Renewed fiscal consolidation is planned...

This 2015 Article IV Consultation highlights that Afghanistan remains a poor fragile state that is far from self-reliance. Significant fiscal and banking vulnerabilities emerged in 2014. Domestic revenue collection fell below its 2013 level because of lower growth, declining imports, and lower...

This 2015 Article IV Consultation highlights that decline in oil prices has adversely affected Kuwait's fiscal and current account balances and slowed growth in 2014-15. Real non-oil GDP growth is projected to slow in 2015 and 2016, and pick up to 4 percent in the medium term, supported by...

This Selected Issues paper analyzes energy price reform in Kuwait. It emphasizes that Kuwait should take advantage of current low global energy prices to strengthen efforts to reform domestic energy prices. In the longer term, this would benefit growth by increasing efficiency in the economy and...

This 2014 Article IV Consultation highlights that Djibouti is undergoing an investment boom that would accelerate economic growth. Aggregate investment is projected to rise from 26 percent of GDP in 2010-13 to 52 percent in 2014-16. GDP growth is expected to rise from 6 percent in 2014 to about...

This 2015 Article IV Consultation highlights that economic activity in Iran has slowed down significantly since the fourth quarter of 2014/15 owing to sharp decline in global oil prices, tight corporate and bank balance sheets, and postponed consumption and investment decisions ahead of the...