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
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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.