IMF lowers growth projection for Middle East and North Africa
Fund says conflict and cuts in oil production are main factors behind its revised forecast
The International Monetary Fund (IMF) lowered its growth forecast for the Middle East and North Africa for this year to 2.4%, a 0.6 percentage point decline from its projection in April.
Jihad Azour, director of the fund’s Middle East and Central Asia department, said growth was projected to rise to 4% next year, but that the forecast was subject to a high degree of uncertainty.
He cited the continued conflict in the Middle East and the cuts in oil production announced by hydrocarbon-exporting
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