Director of the Middle East and Central Asia Department at the International Monetary Fund, Dr. Jihad Azour, said that the fund’s expectations indicate a decline in economic growth in the Middle East and North Africa region to 3.2% this year, compared to 5.4% in 2022.
Azour added, during his participation in the seventh session of the Public Finance Forum for Arab Countries, on the sidelines of the World Government Summit 2023; Inflation is expected to remain in the double-digit range in the economies of the region.
The activities of the seventh session of the Public Finance Forum for the Arab Countries kicked off today, under the title “Financial Sustainability in the Arab Region in the Post-Corona Pandemic Crisis … Challenges and Opportunities”; Organized by the Ministry of Finance in partnership with the Arab Monetary Fund.
The forum will discuss current global and regional economic developments and future prospects, with a focus on the main challenges and priorities of fiscal policy.
It focuses on fiscal policy measures to address the challenges and opportunities associated with climate change and ensure the transition to a green economy.
The forum reviews the scope of managing public financial risks and the challenges facing Arab countries. The Public Finance Forum for Arab Countries is also discussing financial sustainability in the post-coronavirus phase.