Published by the World Bank on April 23, 2025, the Middle East and North Africa (MENA) Economic Update for April 2025 is estimated to have grown at a modest rate of 1.9 percent in 2024, against a backdrop of increased global uncertainty. The region is far from the forefront when it comes to living standards, mainly due to low productivity. This issue of the MENA Economic Update sheds light on a critical engine of productivity growth, the private sector. Businesses create jobs, boost livelihoods, and are a bastion of economic innovation. However, the MENA private sector is not dynamic and ill-prepared to absorb shocks. To increase the performance of the private sector, governments in the region may need to rethink their role in engaging with markets, including improving competition, the business environment, and data availability. Additionally, private sector businesses in the region can increase performance through better management practices and harnessing untapped talent in the region.
