The International Monetary Fund said in its latest economic outlook report for the Middle East and Central Asia 2021 that it raised the economic growth forecast in the Middle East and North Africa region by 0.1% to 4.1% in 2021, and by 0.4% to 4.1% in 2022.
The fund added that it expects inflation in the Middle East and North Africa to rise to 12.9% in 2021, and reach 8.8% in 2022.
In its report on the economic outlook for the Middle East and Central Asia 2021, the Fund said that the total debt of oil-importing countries in the Middle East and North Africa will exceed 100% of GDP in 2021, and that the need for financing in oil-importing countries in the MENA increased by 50% compared to 2018-2019. .
With regard to the Corona pandemic, the Fund stated that the course of the economy in 2021 still depends on the path of Corona and the decisions of OPEC +, and that the distribution of vaccines and developments in the oil market and tourism are the most important factors that will support recovery.
The IMF added in its report that 40% of the population of the Gulf countries have been vaccinated so far, and there are expectations that the vaccination rate of the population in the Gulf states will rise to 70%.
The Fund expected that the oil activities of exporting countries in the Middle East and Central Asia will rise to 5.3% in 2021, to 4.4% in 2022.