Growth in the Middle East and North Africa region (MENA) is projected to increase from 2% in 2023 to 2,9% in 2024 and 4,2% in 2025, the International Monetary Fund (IMF) said Tuesday.
This is a downward revision of 0.5 percentage point for 2024 from the October 2023 projections, the IMF pointed out in its World Economic Outlook report.
Global growth is projected at 3.1% in 2024 and 3.2% in 2025, the international financial institution pointed out.
Global headline inflation is expected to fall to 5.8% in 2024 and to 4.4% in 2025, according to the same source.
World trade growth is projected at 3.3% in 2024 and 3.6% in 2025, below its historical average growth rate of 4.9 percent, the Bretton Woods institution noted.
Rising trade distortions and geoeconomic fragmentation are expected to continue to weigh on the level of global trade, the report said.
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