Browsing: IMF economic outlook on MENA

The International Monetary Fund (IMF) said that it foresees a 4 percent GDP for the Middle East and North Africa (MENA) in 2021 and 3.7 percent in 2022.

In 2020 the projections were at -3.4 percent and 3.1 percent in IMF’s  October regional outlook forecast for 2021.

According to IMF’s April regional report released yesterday, MENA importers in 2021 will record a GDP of 2.3 percent and 4.5 percent in 2021 a rise from -0.8 percent in 2020.

Speaking during the sidelines of the World Bank’s and IMF’s meeting, the Director of the Middle East and Central Asia Department, Jihad Azour said that “Our region reacted swiftly and with resolve, implementing measures that helped contain the pandemic spread and cushion the economic blow. Now, a year later, the novel coronavirus (COVID-19) vaccine and favorable external environment, offer hope that the end of the crisis is within sight.”

He said that …