The Director-General of the International Monetary Fund, Kristalina Georgieva, expected the economies of the Gulf Cooperation Council countries to grow by 6.5 percent this year, suggesting that the growth of these economies will remain in the positive region, even if it declines slightly.
Georgieva, during a press conference held in Saudi Arabia on the sidelines of the signing of an agreement to establish a regional headquarters for the Fund in Riyadh, suggested that the economies of the Gulf countries would grow by 3.6 percent during the next year, pointing out that "from our point of view, the reforms undertaken by the Gulf countries in the recent period have begun to bear fruit, and these reforms must continue in the future."
She indicated that "our discussions were directed at the areas in which these reforms can affect, especially with regard to the sustainability of public finances in the medium term, economic diversification, and unleashing the potential of youth."
Georgieva considered that 2023 will be a more difficult year compared to previous expectations, because inflation has forced central banks to take arbitrary measures, making growth prospects darker for many countries.
Source (Al-Rai Kuwaiti Newspaper, Edited)
