A top economist at the Dubai International Financial Centre (DIFC) has said that the Middle Eastern countries are the least affected by the current economic crisis due to their economic policies.

In an interview with CNBC Arabiya, Dr Nasser Saidi, Chief Economist at DIFC said that some of the cornerstones which have contributed to the stability of the region include the central bank procedures, lowering of interest rates, driving liquidity to the financial sector, and increased government spending on infrastructure and public works.

Dr Saidi added that the economic diversification of the region’s economy has helped prevent negative results due to low oil prices; contrary to what happened in the 1970s and 1980s.

Dr Saidi's statements came after the International Monetary Fund (IMF) issued forecast results from its international report and its expectations for the Middle East, North Africa, Afghanistan and Pakistan.

The IMF report forecasted a decrease in growth, from 5.7 per cent in 2008 to 2.6 per cent in 2009.

In the interview, Dr Saidi also warned of a number of potential risks for the region, including reduced tourism revenues, oil prices, and international trade.

Dr Saidi is a former Minister of Economy and Trade and Minister of Industry of Lebanon (1998-2000), and former first vice-governor of the Central Bank of Lebanon (1993-2003). – TradeArabia News Service