IMF gives upward growth projection of 4% for Middle East, Central Asia in 2021
- Date: 28-Jul-2021
- Source: Daily News Egypt
- Sector:Economy
- Country:Middle East
IMF gives upward growth projection of 4% for Middle East, Central Asia in 2021
The International Monetary Fund (IMF) has revealed that it expects growth in the Middle East and Central Asia (ME&CA) region to reach 4% in 2021.
The latest figure was published in its World Economic Outlook (WEO), released on Tuesday, and represents a slight rise from the projection of 3.7% in its April WEO.
The IMF noted a slight decline in its projection for the ME&CA region's growth in 2022 to reach 3.7%, slightly down from the 3.8% projected in its April WEO.
"Meanwhile, the IMF is expecting this year for the growth rate in the MENA region to reach 4.1%, which is, a very slight revision relative to our previous forecast," Petya Koeva Brooks, Deputy Director of the Research Department, said during a virtual press conference on Tuesday.
Noting in its April World Economic Outlook, the IMF expects the Middle East and North Africa (MENA) region to grow by 4% in 2021.