How COVID-19 Impacted MENA Economies During 2020
- Date: 21-Oct-2020
- Source: Al Bawaba
- Sector:Economy
- Country:uae-top-picks
How COVID-19 Impacted MENA Economies During 2020
You may not find names of any Arab country amongst the ones who have been heavily impacted by the pandemic, in terms of COVID-related deaths. However, the efforts to curb the spread of the disease in countries with underdeveloped health systems through full and partial lockdowns have undoubtedly burdened the region's economies.
Due to the nature of this pandemic as a long-term global health crisis, many economies and sectors have been suffering painful losses resulting from severe volatility in the markets.
A July 2020 report published by the UN has highlighted the different aspects of how the novel Coronavirus has impacted the MENA economies. According to the IMF World Economic Outlook October report for the Middle East, the region's projected GDP is expected to hit -4.1% .
The UN report noted that Arab stock markets
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