IMF Downgrades MENA Growth Forecasts
Real GDP growth in the MENA region is expected to decline to 2.1% in 2013 from 4.6% in 2012, before rising to 3.8% in 2014, according to the IMF latest six-monthly World Economic Outlook released on 8 October. The 2013 projection marks a sharp downgrade from the figure of 3.1% given six months ago. The IMF says weak global demand and domestic supply disruptions have reduced oil production, while “prolonged political...
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