The institution expects a 3.6% growth in 2024 and 3.7% in 2025. For this year, the projection is at 1%.
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The 47th edition of the event took place in Cairo, the capital city of Egypt. The entity was represented by the regional advisor for the Gulf Cooperation Council, Iraq, and Yemen, Shaheen Ali Shaheen.
An IMF report urges Gulf Cooperation Council member countries to tailor their fiscal policies to match the commodity’s prices, which are expected to decline in the next two decades.
Marcelo Della Nina, the diplomat representing Brazil in Saudi Arabia, was welcomed by Abdullatif Bin Rashid Al-Zayani.
According to the institution, global economic growth will reduce from the 3% of last year to 2.9% this year. Brazil may grow 2.2% if reforms are passed.
After the reopening of movie theaters in Saudi Arabia, the sector is seeing a strong growth in the region.
The number of launched projects has reached 2,410, according to a report by the BNC Network. From these, 1,730 are in tender or under construction.
The International Monetary Fund released this Wednesday the report Regional Economic Outlook for the Middle East and North Africa, underscoring five main points.