Middle East growth to recover in 2024 but structural issues to weigh - IMF
© Reuters. FILE PHOTO: A woman runs past the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 13, 2021. Picture taken June 13, 2021. REUTERS/Christopher PikeDUBAI - Economic growth in the Middle East and North Africa region is expected to accelerate in 2024 after a slowdown this year but structural challenges will weigh in the medium term, the International Monetary Fund said on Thursday.
The forecasts were made before conflict broke out between Israel and Palestinian Islamist group Hamas on Oct. 7."However, public sector debt remains elevated in several countries, and medium-term growth is forecast to remain subdued," the IMF said."Although inflation is broadly easing, it remains elevated in some economies, with high food prices exacerbating food insecurity."
MENA inflation is projected to peak at 17.5% on average this year, easing to 15% in 2024, although the figure varies significantly across countries. Economic growth in the Caucasus and Central Asia is projected at 4.6% this year, down from 4.8% last year, moderating slightly to 4.2% in 2024, on gradual normalisation of migration, trade, and financial flows from Russia, the IMF said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2024 Jaguar F-Type ZP Edition, 2024 BMW X2: Car News HeadlinesBMW's redesigned X2, Jaguar's final F-Type, and the next Corvette ZR1 all made headlines today.
Read more »
Money now, shares later: more IMF countries voice support for pragmatic IMF funding boostMoney now, shares later: more IMF countries voice support for pragmatic IMF funding boost
Read more »
Israel war: Who knew McCarthy was so essential to peace in the Middle East?Christopher Tremoglie is a commentary writer for the Washington Examiner. He is a former intern for the Department of State and a frequent guest on radio and television. His work has been featured in the Philadelphia Inquirer, National Review, and the Daily Caller and has appeared on Fox News and One America News. He graduated cum laude from the University of Pennsylvania as a double major in political science and Russian and East European studies. Follow him on X: chriswtremo
Read more »
Joe Biden keeps focus on junk fees despite crises in Middle EastPresident Biden again used the bully pulpit of his office to highlight the danger of 'junk fees' to the U.S. economy, hammering away at the relatively narrow issue that has become a White House staple.
Read more »
Blinken to Israel on Middle East mission to prevent a wider warU.S. Secretary of State Antony Blinken headed to Israel on Wednesday on a Middle East mission to prevent a wider war from erupting after an attack and hostage-taking by Palestinian Hamas militants and an Israeli bombardment of the Gaza Strip.
Read more »
USU professor provides insight into Middle East tensions, US involvementSurprise, heartbreak and shock. Those were the words used by Utah State University political science professor Austin Knuppe to describe what’s unfolding in-and
Read more »