Publications

FEMIP: The crisis and exit strategies in the Mediterranean partner countries

 

The FEMIP Mediterranean countries (FMCs) have reacted well to the crisis. They were protected from a severe financial crisis by the fact that their financial integration – both regionally and globally – is limited. But the shock of the crisis was nevertheless felt. It was transmitted by real effects via four main channels: exports, transfers of income, tourism and direct investment. This shock led to a reduction in growth (by 2 to 2.5 percentage points on average), had an impact on employment (with fewer jobs being created and unemployment rates rising again) and on the public budgets as a result of support measures being introduced (with deficits of 7% of GDP on average).

 

www.eib.org/projects/publications/etude-femip-crise-et-voies-de-sortie-de-crise-dans-les-pays-mediterraneens.htm

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