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The Middle East and North Africa (MENA) region is one of the richest in the world in terms of natural resources. It holds more than 60 percent of the world's proven oil reserves, mostly located in the Gulf region, and nearly half of global gas reserves. Not surprisingly, oil represents close to 85 percent of the merchandise exports of the region, making it highly susceptible to fluctuations in international prices. A long strand of economic...
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