The Middle East’s long-term economic development prospects will not be critically affected by a military action in Iraq, said Deutsche Bank Global Chief Economist Steven Bell, keynote speaker at the second MEED Asset Management Conference, on Tuesday, January 28. A war will rather only constitute a short-term setback to the region’s economy, he added.
Moreover, Bell said in his address, “If post-war issues can be handled reasonably well, there is a positive outcome” to be expected. Once the fog of political uncertainty is lifted there will be “a tremendous increase in post-war construction” in Iraq, predicted Ball.
While there is some concern over the immediate outlook for the Middle East, Ball expects major economic growth in the region this time next year. “If we look a year from now we will see some very positive developments. We will also see a more stable situation in the region.” Quoted by Gulf Daily News. The two-day conference was held at the Ritz-Carlton Bahrain Hotel. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
