The World Bank has sharply cut its growth forecasts for the Middle East and North Africa (MENA) region to 2.6 percent and 3.7 percent in 2025 and 2026, respectively, for the second time this year, down from 3.4 percent and 4.1 percent in its January forecasts. This is down from 3.8 percent for this year in its October 2024 forecast (without revising the forecast for next year), in light of an expected deterioration in the global economic outlook due to the repercussions of US tariffs and counter-tariffs.
The International Monetary Fund also presented a pessimistic outlook for the Middle East and North Africa region's economic growth for the current and next years, predicting growth of 2.6 percent this year and 3.4 percent next year, representing a reduction of approximately 0.9 percentage points and 0.5 percentage points, respectively, compared to its previous estimates at the beginning of the year.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
