The Arab countries dominated about half of the list of the world's fastest-growing economies during 2022, despite the difficulties that many countries faced during the current year, and the unfavorable economic conditions, but oil prices were supportive of three Arab countries to be on the list.
The world's fastest-growing economy was Guyana, whose GDP accelerated by 57.6 percent during 2022. Iraq was the fastest-growing Arab country, as the gross domestic product accelerated by 9.3 percent, and ranked second globally during 2022, followed by Kuwait and Saudi Arabia in fourth and fifth places globally, with a growth rate of 8.7 percent and 7.6 percent for the current year. And in tenth place, Egypt ranked with a growth rate of 6.6 percent in the gross domestic product, thus controlling the Arab countries in 4 positions among the 10 fastest-growing economies in the world, according to the data of the International Monetary Fund. India has corrected its course, as India's GDP growth continues to do well globally, and India is expected to overtake Japan as the second-largest economy in Asia by 2030.
Source (Al-Arabiya.net website, Edited)
