The Forum Euroméditerranéen des Instituts de Sciences Économiques (FEMISE) is launching its 2017 Euro-Mediterranean report on the transition of the South Mediterranean economies on 23 November. The report provides a critical analysis of the responses of selected countries of the region to the economic, social and political challenges in the wake of the uprising and recommendations on how to move forward to ensure a successful transition.
“Overall, South-Med countries are at a crossroad. They hold an enormous potential that has been held back by modest economic performance and extractive political institutions. The uprising, which began in December 2011 provided these countries an opportunity to follow a new development path”, state the authors of the report.
The political transition has unavoidably taken a toll on these economies and the governments found themselves facing a number of challenges and difficult decisions to make. For example, on the economic front and in an attempt to succumb popular demands and to calm rising social unrests, governments responded by adopting expansionary policies rather than austerity measures. While this policy choice caused pressure on the already existent budget deficits and increased public debts, it is believed that it will help restore the economic downturn in the long-term.
Forum Euroméditerranéen des Instituts de Sciences Économiques (FEMISE)