While economic activity is expected to gather steam this year following the dismal performance in 2017, growth will remain at relatively low levels. Although the rally in oil prices is helping the economic recovery among oil-exporting economies, fiscal imbalances remain large and continue to put a dent in governments’ ability to shore up the real economy. Dynamics among oil-importing nations will improve slightly this year on the back of economic reforms and strong global demand. High levels of public debt will, however, continue to limit fiscal support.
