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The economies of the Middle East and North Africa region have contracted as a result of the oil production cuts, fiscal consolidation, and regional conflicts, according to the World Bank.As for the outlook of these states, the World Bank said growth in the Middle East and North Africa region is projected to fall to 2.1 percent in 2017 due to the sharp cut in oil production.It projected the GDP growth in Saudi Arabia, the largest economy in the region, is expected to fall to 0.6 percent in 2016 before accelerating to a two percent pace in 2018 .It expected the economies of oil importing countries to improve in 2018 .
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