The International Monetary Fund cut projected growth in the Middle East and North Africa this year by 0.5 percentage points to 2.9 percent from 3.4 percent in October's forecast. There are additional factors that are putting pressure on growth in the region, most notably the conflict in Gaza, oil production cuts, and the continuation of the necessary strict policies in many economies.
According to the IMF's "Middle East and North Africa: Conflicts Complicate Economic Challenges," as the impact of these factors gradually fades and strong non-oil growth continues to support activity in oil-exporting countries, growth is expected to rise to 4.2 percent in 2025.
The conflict in Gaza and Israel is another shock to the MENA region, and another blow to economies facing existing challenges and increasing uncertainty.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
