The Arab Monetary Fund (AMF) expects Arab countries to record growth of 3.1 percent in 2019, rising to 3.4 percent by 2020.
The AMF said that the expected growth reflects the weighted growth of the Arab Petroleum Exporting Countries' total output by 2.8 and 3.1 percent in 2019 and 2020, respectively. Noting that, growth in the GCC countries will be driven mainly by improved activity in non-oil sectors, taking advantage of a number of factors, including the positive impact of a number of these countries moving ahead with the implementation of strategies and visions for further economic diversification, existing reforms to increase the attractiveness of business environments and stimulate domestic and foreign investment.
In the other oil-exporting Arab countries, the Fund expected relative improvement in macroeconomic performance, with expectations of continuing positive impact of the relative stability of the internal situation in some of the Group's countries, and start reconstruction efforts. In the Arab countries importing oil, the IMF sees high growth in these countries as a continuation of the economic reform process, so the IMF expects a growth by 4.1 percent and 4.3 percent respectively in 2019 and 2020.
Source: (Asharq Al-Awsat newspaper, edited)
