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There is expected to be strong economic growth in the Middle East

There is expected to be strong economic growth in the Middle East this year, but also a sharp rise in inflation and food prices.

There is expected to be strong economic growth in the Middle East
Yazar: Tom Roberts

Yayınlanma: 20 Ekim 2021 02:24

Güncellenme: 19 Kasım 2024 15:58

There is expected to be strong economic growth in the Middle East

There is expected to be strong economic growth in the Middle East this year, but also a sharp rise in inflation and food prices, as coronavirus vaccines are unevenly distributed throughout the region. The International Monetary Fund (IMF) said this on Tuesday. According to the latest report from this financial institution based in Washington, USA, economies in the Middle East region will grow by about 4 percent, while this year's inflation in oil-importing countries will reach 17 percent. According to the report, the situation is particularly catastrophic in countries that are already facing serious economic crises, such as Lebanon and Afghanistan. Food prices have risen to their highest level since 2014, with an increase of almost 28 percent this year. Compared to them, oil-exporting countries in the Persian Gulf, such as Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Bahrain and Qatar, will reach a maximum inflation rate of 2.8 percent this year. While this year, according to the IMF forecast, the average inflation in the region will be 17 percent, in 2022 it should fall to less than 10 percent. The IMF said the region, including Afghanistan, Pakistan and some Central Asian countries, has so far secured 576 million vaccines. This represents a shortage of about 66 million vaccines, of which 24 million for the Middle East, 7 million for Afghanistan, 21 million for Pakistan and 14 million for Central Asian countries.
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