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Macroeconomic Trends in the Middle East

A founding Partner of the International Law Firm of Shirkhani & Alavi, Dr. Shahram Shirkhani and his Tehran, Iran-based team provide advice to international corporate clients and financial institutions.
Dr. Shirkhani has particular experience working with clients throughout the Middle East to build long-lasting partnerships and negotiate far-reaching deals.
An International Monetary Fund regional economic outlook from November 2012, “Middle East Economies Post Divergent Performance,” examines macroeconomic trends throughout the Middle East and North Africa. Overall, the IMF survey projects growth at a 5.1 percent rate, significantly higher than the 3.3 percent the region experienced in 2011. The survey notes that oil producers are likely to experience continued economic health, while oil importers face lowered growth expectations. A particular concern for governments lies in meeting the expectations of populations that are growing impatient for a dividend from recent political transitions.
One area of particular optimism involves Libya’s continued recovery, which is proceeding at a faster pace than expected. With per-barrel oil prices expected to stay steady at around $100 for the foreseeable future, Gulf Cooperation Council countries will continue to enjoy healthy economies that reflect expansionary fiscal policies and flexible monetary policies. At the same time, the IMF survey predicts that oil production
will hit a plateau, which may impact overall growth rates among member countries.
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