IMF slashes Middle East and Central Asia growth forecasts – ZAWYA

IMF slashes Middle East and Central Asia growth forecasts – ZAWYA

IMF slashes Middle East and Central Asia growth forecasts | ZAWYA MENA Edition HomeEconomyGCCArticleIMF slashes Middle East and Central Asia growth forecasts The region, which includes around 30 countries, will see real, or inflation-adjusted, gross domestic product (GDP) fall by 4.7% this year    International Monetary Fund (IMF) logo is seen outside its headquarters in Washington, September 4, 2018. Image used for illustrative purpose.DUBAI- The International Monetary Fund (IMF) has revised downwards its growth projections for the Middle East and Central Asia as economies were hurt worse than expected by the double blow of lower oil prices and the coronavirus crisis.The region, which includes around 30 countries spanning from Mauritania to Kazakhstan, will see real, or inflation-adjusted, gross domestic product (GDP) fall by 4.7% this year, 2 percentage points lower than IMF forecasts in April, the fund said in a report on Monday.The pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.The region, which includes around 30 countries spanning from Mauritania to Kazakhstan, will see real, or inflation-adjusted, gross domestic product (GDP) fall by 4.7% this year, 2 percentage points lower