The International Monetary Fund (IMF) revealed that conflicts in the Middle East and Central Asia, along with oil production cuts, are affecting growth rates in the region as a whole this year.
In its quarterly World Economic Outlook, the IMF cut estimates of economic growth in the region by 0.4 percent compared to the report released in April. The economies of the Middle East and Central Asia are estimated to grow 2.4 percent this year, compared to 2.8 percent in the April report, and then grow to 4 percent in 2025.
The region's economies have been affected by the Israeli war on the Gaza Strip, which has been ongoing since October 7, leaving more than 127,000 dead and wounded and more than 10,000 missing. Besides conflicts, oil production cuts have affected growth estimates for crude-producing countries.
Source (Anadolu Agency, Edited)
