Gulf growth forecasts raised by IMF

SourceArab News

Author: REUTERSarticle author: ReutersID: 1617859957228831800Thu, 2021-04-08 08:25 NEW YORK: The International Monetary Fund expects most Gulf economies to recover this year at a faster pace than previously estimated, as it raised its 2021 global growth forecast to 6 percent from 5.5 percent less than three months ago. Saudi Arabia’s economy, the region’s largest, is expected to grow 2.9 percent this year, up from the 2.6 percent forecast in January, the IMF said in its latest World Economic Outlook, released this week. The Kingdom’s economy contracted 4.1 percent last year due to the twin shock of the COVID-19 pandemic and lower oil prices.Main category: Business & EconomyTags: economyIMFGulf more...