The International Monetary Fund expects the economies of the Middle East and Central Asia to grow by 2.9 percent in 2024, rising to 4.2 percent in 2025.
The International Monetary Fund stated, in its World Economic Outlook report issued on Tuesday, that it raised its forecasts for 2025 by 0.3 percentage points, while lowering its forecasts for 2024 by 0.5 percentage points compared to its previous forecast in October 2023.
The Fund indicated that the adjustments in expectations are mainly due to reflecting the temporary reduction in oil production in 2024, including the reductions stipulated through OPEC, while non-oil growth is expected to remain strong.
The Fund also expected growth in sub-Saharan Africa to rise to 3.8 percent in 2024 and 4.1 percent in 2025, as the negative effects of previous climate shocks recede and progress is gradually made in resolving supply problems.
