In the three months since mostobservers, including the World Bank, issued their lastforecasts, the Middle East and North Africa (MENA) Regionhas changed substantially. Political tensions have easedsomewhat with presidential and legislative electionscompleted in a few countries. This issue of the MENAQuarterly Economic Brief focused on the implications of lowoil prices for eight developing countries, the MENA-8 (oilimporters: Egypt, Tunisia, Lebanon and Jordan and oilexporters: Iran, Iraq, Yemen and Libya) and the economies ofthe GCC (Gulf Cooperation Council), who play a major role inproviding funds in the form of aid, investment, tourismrevenues and remittances to the rest of the countries of theregion. Several assumptions are also made about future oilprices taking into account several variables. Allprojections are based on statistical information availablethrough early January 2015.
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