According to data from the International Air Transport Association, air travel demand in November 2023 reached 99.1% of November 2019 levels.
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There was a 10.8% drop in revenue and a 16.6% decrease in volume from 2022, according to sector association data. In December, Libya imported USD 730,000.
GDP growth prospects were published on “World Economic Situation and Prospects 2024” report, which also forecasts challenges for the growth of Africa as a whole.
The negative balance in current transactions was of USD 1.55 billion, a drop from 2022.
Final installment of deal agreed in 2018 was transferred to Amman aiming to bolster Jordan’s economy.
Saudi Arabia’s Public Investment Fund deployed USD 31.6 billion across deals in various countries, including Brazil.
Projections by the International Monetary Fund also estimate a deficit for 2024 due to the slowdown in economic activity and increased public spending.
The IMF expects a GDP growth rate lower than in 2022 but still at a “strong” pace. Inflation is slowing down and international reserves are “comfortable.”
This year, shipments abroad are expected to record a 6.8% expansion over 2022, according to ABPA data through November. Iraq became Brazil’s 10th main importer this year. The UAE was the 2nd leading buyer, and Saudi Arabia the 4th.
Ports and Airports Minister Silvio Costa Filho announced the first step of the air transport program in Brazil, with an increase in the number of airports and a reduction in ticket prices.
A surge in arrivals is anticipated to hit during the last two weekends of the year. A spike is expected on December 22, welcoming an estimated 279,000 passengers.
Decision from Cairo to open fish and seafood market brings new business opportunities for the industry due to the local demand. The Arab country could reexport them to its African and Middle Eastern partners.
According to the Fund, the North African country is expected to close the year with 9.2% inflation, pressured mainly by food prices.
The institutions announced a USD 4.5 billion debt relief for the North African country in a joint statement. The IMF approved another disbursement of USD 9.3 million and is considering a three-year credit arrangement worth USD 100 million.
