Coronavirus hotspots re-emerge in Middle East, threatening economies

SourceArabian Business

Covid infections are rising again in parts of the Middle East, posing a fresh threat to the region’s economies already battered by the collapse in oil prices. Cases have been rising in Iran, which is battling the Middle East’s worst outbreak, with more than half a million people infected so far. Kingdom to end all restrictions on air, land and sea transport for Saudi citizens 'after January 1' next year Lower oil prices this year and the disruptions caused by the pandemic have clouded prospects for a rebound. The International Monetary Fund (IMF) is predicting a contraction of five percent in the Middle East and North Africa, with budget deficits in almost all countries in the Persian Gulf set to hit double digits. VIDEO The outbreak continues to spread in OPEC’s second-biggest oil producer Iraq. While more...