Summary of Learning to Live with Cheaper Oil

Policy Adjustment in Oil-Exporting Countries of the Middle East and Central Asia


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Learning to Live with Cheaper Oil summary
Oil-producing nations need to diversify their economies to thrive over the long term.


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Low oil prices have brought profound and perhaps lasting changes to the economies of oil-producing countries in the Middle East and North Africa and in the Caucasus and Central Asia. According to regional experts at the International Monetary Fund, yawning budget deficits and slowing growth have replaced budget surpluses and economic expansion in these nations. getAbstract recommends this authoritative report on what’s next for these economies to executives, analysts and investors.

In this summary, you will learn

  • How low oil prices have affected the economies of oil-producing nations,
  • How these countries are making up for budget shortfalls and slower economic growth, and
  • Why encouraging private enterprise is increasingly critical in oil-dependent countries.


New energy production in the United States, decelerating growth in China and recession in Russia, a strengthening dollar, increasing conflict across the Middle East, output restrictions by some nations, and rising Iranian oil exports have dimmed the fortunes of many oil producers. Affected economies...
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About the Authors

Martin Sommer et al. are members of the International Monetary Fund’s Middle East and Central Asia department.

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