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- IMF hikes growth forecast for the Middle East
IMF hikes growth forecast for the Middle East
CNBC reports that the International Monetary Fund has revised its growth forecast upward for the Middle East and North Africa region, as countries recover from the coronavirus crisis.
Real GDP in the MENA region is now expected to grow 4% in 2021, up from the fund’s October projection of 3.2%.
However, the outlook will vary significantly across countries depending on factors such as vaccine rollouts, exposure to tourism and policies introduced, the IMF said.
Jihad Azour, director of the IMF’s Middle East and Central Asia department, said the recovery would be “divergent between countries and uneven between different parts of the population.”
″(The) vaccine is an important variable this year, and the acceleration of vaccination could contribute to almost one additional percent of GDP in 2022,” he said.
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