Gulf growth forecasts raised by IMF

Author:
REUTERS
article author:
Reuters
ID:
1617859957228831800
Thu, 2021-04-08 08:25

NEW YORK: The International Monetary Fund expects most Gulf economies to recover this year at a faster pace than previously estimated, as it raised its 2021 global growth forecast to 6 percent from 5.5 percent less than three months ago.
Saudi Arabia’s economy, the region’s largest, is expected to grow 2.9 percent this year, up from the 2.6 percent forecast in January, the IMF said in its latest World Economic Outlook, released this week.
The Kingdom’s economy contracted 4.1 percent last year due to the twin shock of the COVID-19 pandemic and lower oil prices.

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IMF
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