IMF posts positive forecasts for Arab countries
The International Monetary Fund (IMF) has relayed a positive outlook for the Arab economies in upcoming year. Al-Hayat has recently reported that the forecast for the Arab economies includes a substantial economic growth rate resulting from the recent rise in oil prices.
In addition, the IMF bases its positive expectations on the outcome of the various financial and administrative reform programs implemented in many Arab countries’ economies over the past few years. The IMF predicts that the average growth rate in the Arab world will climb to 4.8 percent this year, up from 2.8 percent last year.
In addition, the quarterly report publicized by the IMF expects the North African (Maghreb) countries, excluding Libya, to achieve a 3.9 percent average economic growth rate this year, compared to the 2.9 percent experienced last year. –(Albawaba-MEBG)