The Arab Monetary Fund estimated the growth of Arab economies during 2022 at 5.4%, compared to a growth rate of 3.5% in 2021, and it is expected that the growth rate of Arab economies during the current year will reach 4%.
According to the Fund, the relative improvement in global demand levels, the high growth rates of the oil and gas sectors, and the continuation of Arab governments to adopt stimulus packages to support economic recovery, which amounted to about $400 billion during the period (2020-2022), in addition to the positive impact of implementing several economic reform programs and future visions and strategies aimed at enhancing levels of economic diversification, reforming the business environment, encouraging the role of the private sector, supporting human capital, and increasing the level of economic resilience in the face of shocks, made it possible to enhance recovery opportunities during 2022.
The Arab Monetary Fund estimated the economic growth rate in the Arab region in 2022 at about 5.4%, compared to 3.5% in 2021, while the economic growth rate of the Arab countries is expected to reach about 4% in 2023.
The market for sustainable bonds and Sukuk has grown in response to increased interest in environmental and social policy considerations, and sustainable development goals. As a result, between 2020 and 2021 sustainable debt volumes more than doubled, exceeding $2.9 trillion. The Fund expected that this expansion would continue with the entry of new issuers into the market in order to meet the requirements of social and environmental goals.
Source (Al-Khaleej Emirates Newspaper, Edited)
