| The economies of oil exporting countries in the Middle East and North Africa, excluding Libya, are expected to expand by 4.9% in 2011 due to higher oil prices and production but the risk of a sharp slowdown in the US and Europe could lead to slower global oil demand in 2012 and a sustained drop in oil prices, the IMF said in a regional report Wednesday.
"Economic activity in the MENAP oil-exporting countries, along with their fiscal and external situations, has clearly improved, underpinned by high energy prices," the IMF said. "Real GDP growth is expected to pick up in 2011 -- to almost 5% -- then moderate to about 4% in 2012."..............................................Full Article: Source
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