Three years of the Arab Spring: Economic challenges of the region

Three years after beginning of the Arab Spring most of countries affected by the popular uprising and regime change continue to struggle with political instability, which in turn negatively affects growth performance, business climate and fiscal equilibria. In the environment of slower growth and higher public expenditure pressures fiscal deficits and public debts increased rapidly leading to deterioration of current accounts, depleting central banks reserves, depreciating of some currencies and higher inflationary pressure.

To avoid danger of public debt and balance-of-payment crisis comprehensive economic reforms, including fiscal adjustment, are urgently needed. Among others, they should involve elimination of energy and food subsidies and replacing them by the targeted social assistance, reducing oversized public administration, restructuring and privatization of public enterprises, improving business climate, more trade and investment openness, and sector diversification. The region may also benefit from peace dividend if numerous conflicts can be resolved.

Speakers

• Marek Dabrowski, Fellow at CASE - Center for Social and Economic Research
• Discussant: Zsolt Darvas, Senior Fellow at Bruegel
• Chair: Guntram Wolff, Director of Bruegel

Event materials

Macroeconomic and fiscal challenges faced by the Southern and Eastern Mediterranean region by Marek Dabrowski Download

Practical details

• Venue: Bruegel, Rue de la Charité 33, 1210 Brussels
• Time: Thursday 27 March, 2014, 12:45-14:30
• Contact: ;Matilda Sevón, Events Coordinator - matilda.sevon[at]bruegel.org