OIC Economic Outlook 2016 – Transforming the Potentials into Impact
Date : 28 November 2016

SESRIC has launched the OIC Economic Outlook 2016 report during the 32nd Session of the COMCEC which was held in Istanbul on 21-24 November 2016. The main highlights of the report were presented by H.E. Ambassador Musa Kulaklıkaya, Director General of SESRIC, during the meeting, where the Report and its special theme on growth potentials have attracted great interest.

The OIC Economic Outlook 2016 analyses the trends in major economic indicators for the OIC member countries, as a group, during the latest five-year period for which the data are available (2011-2015). The Report investigates these trends in a comparative manner with the groups of developed and non-OIC developing countries as well as with the world average. In so doing, the Report highlights a number of constraints and challenges confronting the OIC Member Countries in their efforts towards enhancing their economic development and progress.

This year’s report also includes a special part on how to utilize inherent potentials of OIC Countries for better economic performance. This section highlights some potential areas where OIC Countries have relatively stronger position vis-à-vis the rest of the world. According to the Report, effective utilization of these capacities may result in higher economic growth rates. In particular, the report identified three major factors that can potentially contribute to achieving better economic performance and living standards. These were dynamic population structure, rich energy resources and great market potential. In this context, the report provides some preliminary assessment on the significance of these resources and their potential contributions to socio-economic development in OIC Countries. The report argues that the reckless consideration of these resources and potentials may equally deteriorate the already existing level of development and, thus, transforming the potentials into threat rather than strength.

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