Growth in the region of the Middle East and North Africa (MENA) is forecast to slow from 5.6% in 2022 to 2% in 2023 before rebounding to 3.4% in 2024, according to the International Monetary Fund (IMF).
The forecast for 2023 is down by 0.6% from the July 2023 Update to the World Economic Outlook, the IMF said Tuesday.
Global growth is forecast to slow from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, the financial instiution pointed out in its World Economic Outllok, published on the occasion of the Annual meetings of the IMF and the World Bank held in Marrakech.
The global recovery from the COVID-19 pandemic and the war in Ukraine remains slow and uneven, the financial instiution noted.
“Despite economic resilience earlier this year, with a reopening rebound and progress in reducing inflation from last year’s peaks, it is too soon to take comfort,” the Washington-based institution stressed.
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