Arab Monetary Fund unveils promising Economic Outlook for the region

Arab Monetary Fund unveils promising Economic Outlook for the region

The Arab Monetary Fund (AMF) has released the Fifteenth Edition of the Arab Economic Outlook Report, which includes updated predictions for growth and inflation in Arab economies for 2021 and 2022, as part of its ongoing efforts to support decision-making in Arab countries.

According to the report, Arab economies are expected to grow by 2.7 percent in 2021, driven by progress in national vaccination programs and the continuation of fiscal stimulus packages, which totaled $341.5 billion till September 2021.

Further, the AMF has raised its prediction for Arab countries’ economic growth in 2022 to 5.2 percent, citing the expected increase in oil production in several of the region’s major oil exporters as well as the favorable impact of adopted economic reforms.

According to the report, “Inflation rates are expected to record relatively high levels in some Arab countries in 2021, as a reflection of the local and global inflationary pressures, while those pressures are expected to recede in 2022.”

The Arab governments intensified their efforts during 2021 to accelerate the implementation of national vaccination campaigns to ensure health preparedness to confront the COVID-19 pandemic. As a result, the percentage of people who have been vaccinated has climbed in various Arab countries, ranging from