* Updated with details
The International Monetary Fund lowered its forecast for the growth of the economies of the Middle East and North Africa in 2023 to 2.6%, down 0.5% from its previous forecast last April.
In its World Economic Outlook report released on Tuesday, the IMF also lowered its forecast for the growth of Middle East and North African economies in 2024 by 0.3% to 3.1%.
The Fund raised its forecast for global economic growth in 2023 by 0.2% to 3%, and kept the global growth forecast for 2024 unchanged at 3%.
The fund said that central banks’ raising interest rates to curb inflation still casts a shadow on economic activities, but it expected global inflation to decline from 8.7% in 2022 to 6.8% in 2023.
(Prepared by: Maryam Abdel-Ghani, to communicate with [email protected])
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2023-07-25 13:34:00
#IMF #lowers #forecast #growth #economies #Middle #East #North #Africa
