A number of assumptions have been adopted for the projections presented in the Regional Economic Outlook: Middle East and Central Asia. It has been assumed that established policies of national authorities will be maintained; that the average price of oil will be $68.5 a barrel in 2007 and $75 a barrel in 2008; and that the six-month London interbank offered rate (LIBOR) on U.S. dollar deposits will average 5.2 percent in 2007 and 4.4 percent in 2008. These are, of course, working hypotheses rather than forecasts, and the uncertainties surrounding them add to the margin of error that would in any event be involved in the projections. The 2007 data in the figures and tables are estimates. These estimates for 2007 and projections for 2008 are based on statistical information available through end-September 2007.

The following conventions are used in this volume:

• In tables, a blank cell indicates “not applicable” and ellipsis points (. . .) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.
• An em dash (—) indicates the figure is zero or less than half the final digit shown.
• “Billion” means a thousand million; “trillion” means a thousand billion.
• “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point). As used in this report, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

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