09 February 2016
Despite a relatively lackluster global economic outlook through 2020, the MENA region is expected to continue to demonstrate healthy growth. In connection with the World Government Summit taking place in Dubai, A.T. Kearney's Global Business Policy Council (GBPC) shared five concrete opportunities to accelerate economic growth in the coming years both globally and in the MENA region in particular

Dubai, UAE - The Middle East and North Africa (MENA) region has one of the highest levels of anticipated economic growth through 2020, according to a report issued by global management consultancy A.T. Kearney's Global Business Policy Council at the World Government Summit. Growth for the region is forecasted to be 4.3 percent for the period of 2016 - 2020 in accordance with IMF data, just behind sub-Saharan Africa (5.3 percent) and South Asia (5.9 percent).

Global economic growth is set to rise over the next four years at 3.8 percent annually. Although slower than previously anticipated, this is up from 2011-2015 period which saw average global growth rates of 3.5 percent.

A.T. Kearney's Global Business Policy Council (GBPC) has outlined the four factors set to shape economic development over this coming period. Rudolph Lohmeyer, Director, Global Business Policy Council, A.T. Kearney, based in the UAE said: "Four key dynamics set to shape economic growth significantly are the evolving resource slump cycle, sustained U.S economic resurgence, weak productivity growth and a hiatus of globalization. Together these dynamics suggest uneven, and in many cases lackluster growth prospects for markets around the world."

Mauricio Zuazua, Partner Government & Economic Development and Innovation Practice, A.T. Kearney Middle East stressed: "In the years ahead and likely more than ever, government policy choices will have a great influence on whether individual countries are strong or weak performers."

In the recent report "Prospects for Achieving Escape Velocity - Global Economic Outlook 2016-2020", A.T. Kearney identifies five key opportunities that have the potential to enable global economic growth to achieve 'escape velocity' - that is, to achieve sufficient momentum to move past prevailing constraints toward stronger growth. These opportunities include: the normalization of monetary policy, successful rebalancing of the Chinese economy, an exponential takeoff of technology, a rapid acceleration of economic cooperation between the United States and China and resurgent growth in Sub-Saharan Africa.

Antoine Nasr, Partner Government & Economic Development Practice, A.T. Kearney Middle East concluded: "Realizing the potential benefit of any of these opportunities for global growth will be a challenge. Achieving positive momentum requires strong and visionary leadership from both policy makers and leaders in the public sector as well as business leaders. To increase the likelihood of a stronger than expected economic recovery, it is critical for policy makers and business executives to work closely together and define in practical terms the investments and reforms needed to stimulate sustainable local and global growth."

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About A.T. Kearney
A.T. Kearney (www.atkearney.com) is a global team of forward-thinking partners that delivers immediate impact and growing advantage for its clients. We are passionate problem solvers who excel in collaborating across borders to co-create and realize elegantly simple, practical, and sustainable results. Since 1926, we have been trusted advisors on the most mission-critical issues to the world's leading organizations across all major industries and service sectors. A.T. Kearney has more than 60 offices located in major business centers across the world. From our Middle East offices in Abu Dhabi, Dubai, Manama, Doha and Riyadh, A.T. Kearney supports both private and public sector clients as well as nations to excel and prosper by combining our regional expertise and global business insights to achieve results. For more information, visit www.middle-east.atkearney.com.

About the World Government Summit
Since 2013, the government of the United Arab Emirates (UAE) has hosted an annual Summit that brings together government officials, thought leaders, thinkers, policy makers, and private sector executives to discuss the best ways to develop the future of government. For additional details, go to: https://worldgovernmentsummit.org/. Follow us on Twitter at @WorldGovSummit; #WorldGovSummit.

© Press Release 2016