Mena economies to grow 5.2% in 2022 but recovery will be uneven, World Bank says – The National
- Date: 14-Apr-2022
- Source: The National
- Sector:Economy
- Country:Middle East
Mena economies to grow 5.2% in 2022 but recovery will be uneven, World Bank says – The National
The Middle East and North Africa economies are expected to grow 5.2 per cent in 2022, the fastest rate since 2016, on the back of higher oil prices, but the Ukraine war and Covid-19 variants add uncertainty to the outlook, the World Bank said on Thursday.
The Washington-based lender also predicted an uneven recovery across the region with surging oil prices and a high vaccination rate benefitting crude exporters.
“Oil producers will benefit from higher oil prices and vaccination rates as fragile countries lag. But tighter global monetary policy, the unpredictability of the course of the pandemic, ongoing supply chain disruptions and food price hikes raise inflation risks for the entire region,” the World Bank said in a report on Mena region.
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