In its latest edition of the Global Economic Prospects report, the World Bank cut its growth forecast for the Middle East and North Africa (MENA) countries to 2.8 percent from 3.5 percent, reflecting the impact of extended oil production cuts and the ongoing conflict in the region. The bank raised its growth forecast to 4.2 percent next year from 3.5 percent.
World Bank projections indicate that over the period 2024-2026, countries that together account for more than 80 percent of the world's population and global GDP will continue to grow at a slower pace than in the decade before the pandemic.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
