The authors bear the sole responsibility for any remaining errors and omissions.
The Middle East and North Africa (MENA) is an economically diverse region that includes countries with a common heritage, vastly different levels of per capita income, and a common set of challenges (see Box 1).
Of the 24 countries and territories, 13 are oil-exporting countries.
These are Algeria, Bahrain, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Sudan, the Syrian Arab Republic, the United Arab Emirates, and Yemen.
For example, inflation has been low and on the decline for most of the 1990s; fiscal deficits, while persisting, have narrowed since the mid-1980s to levels below those of other developing countries.