Raising Competitiveness: Recipe for Tapping into the Middle East’s Growth Potential

With the global economy on the mend, countries in the Middle East and North Africa are witnessing a pickup in trade and economic growth. But, within the region, the picture is mixed. Indeed, for the region’s oil-importing countries, we are likely to see growth nudge up from 4½ percent in 2009 to around 5 percent this year. However, that is well below the growth rate required to create the 18 million jobs needed over the next decade. For these countries, greater competitiveness will be the crucial ingredient to boosting economic growth and employment. In this blog post, Masood Ahmed explores what we mean by ‘competitiveness’ and what are the policy actions governments need to take to raise it.