The International Monetary Fund's report on growth prospects for the Middle East and Central Asia showed surprising expectations for the next year, including the 10 fastest-growing Arab economies in 2023.
The report revealed that Libya would be the fastest growing among the economies of the Arab countries, as the International Monetary Fund expects it to achieve a growth of 17.9 percent in 2023. Djibouti came in second place, with an expected growth of 5% for the year 2023, followed by Mauritania in third place, with an expected growth rate of 4.8 percent for the year 2023. Egypt ranked fourth among the 10 fastest-growing Arab countries during 2023, with a growth of 4.4 percent.
The International Monetary Fund expected the UAE economy to achieve a growth rate of 4.2 percent in 2023, after a growth of 5.1 percent in 2022.
The Sultanate of Oman ranked seventh in the ranking, with an expected growth rate of 4.1 percent for the year 2023, followed by Iraq in eighth place in the Arab world, with an expected growth rate of 4 percent. The International Monetary Fund expected that the growth rate of the Saudi economy would fall to 3.7 percent from record levels of 7.6 percent expected for the current year. The report expected Palestine to occupy the tenth place among the economies of Arab countries in terms of the expected growth rate for the year 2023, with a growth of 3.5 percent.
Source (Al-Arabiya.net Website, Edited)
