A more favorable global environment is helping to improve economic prospects in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) and Caucasus and Central Asia (CCA) regions, although growth prospects remain subdued. To improve growth and boost living standards, countries in the MENAP region face an ongoing need to enact strong and lasting structural reforms, while consolidating their fiscal positions. While growth is improving in the CCA, growth levels are still half of what they were during the last decade. Like MENAP, the CCA is facing a number of structural reform priorities, including repairs to its vulnerable financial sector.