Seminar on the World Bank’s MENA Economic Update – Altered Destinies
FromJun 14, 2023 To Jun 14, 2023
Online Webinar
ERF and the office of the Chief Economist, Middle East and North Africa, the World Bank are organizing this seminar to discuss the World Bank’s latest MENA Economic Update April 2023, “Altered Destinies: The Long-Term Effects of Rising Prices and Food Insecurity in the Middle East and North Africa”
The World Bank’s latest Middle East and North Africa (MENA) Economic Update (Gatti et al., 2023) forecasts that growth in the region will be 3.0% in 2023, almost half of 2022 (5.8%). The slowdown is concentrated in Gulf economies that benefitted from oil windfalls in 2022 (GDP growth fell from 7.3% in 2022 to 3.2% in 2023). In addition to falling incomes, the purchasing power of the people in MENA was also eroded by sharply increasing prices. Double-digit food inflation is weighing heavily on developing economies in the region, with the poor being hit hardest by food price hikes. More importantly, food inflation, even if temporary, may have lasting effects through generations.
Rising food prices are making it difficult for families to put meals on the table. The immediate effects of food insecurity can be a devastating loss of life, but even temporary increases in food prices can cause long-term irreversible damages to children. Rising food prices due to the war in Ukraine may have altered the destinies of hundreds of thousands of children in the region, setting them on paths to limited prosperity. The challenges are compounded by the inadequate child nutrition and health pre- COVID-19 pandemic. The report discusses policy options, highlighting the need for data for effective decision making.
Agenda
Jun 14
Date
14/06/2023
Location
Online
Time
From 4:00 pm To 5:00 pm
Speakers
Research Fellows
Ibrahim Elbadawi
Managing Director, Economic Research Forum
Speakers
Roberta V. Gatti
Chief Economist, Middle East and North Africa,...
Speakers
Asif Islam
Senior Economist, Office of the Chief Economist,...
Speakers
Federico Bennett
Economist, Office of the Chief Economist for...
Research Fellows
Adel Ben Youssef
Professor of Economics, University Côte d'Azur
Authors
Maia Sieverding
Assistant Professor of Public Health Practice at...