chapter  3
26 Pages

STRUCTURAL ECONOMIC REFORMS IN THE ARAB REGION

The process of structural economic adjustment consists of reforms and measures aimed at reducing internal and external imbalances, transforming the economy towards a market oriented one and placing it on a sustainable long-term growth path. The policy areas that are typically featured in the adjustment program include: reduction of budget and current account deficits, liberalization of pricing policies, reforming monetary and fiscal policies, removing trade barriers, developing financial and capital markets, improving the efficiency of the public sector (including privatization of public enterprises) and boosting the country's main productive sectors (agriculture and industry).