In a meeting with the cabinet, the president highlighted that the 2025 budget has been approved, and that the country should implement the suggestions made by the International Monetary Fund delegation.
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The Brazilian Minister of Finance discussed his country’s economy during his speech at the IMF conference in Saudi Arabia, where he also held meetings with local ministers to discuss investments, trade, and cooperation.
Brazil’s Finance Minister Fernando Haddad spoke with Qatar’s Finance Minister Ali bin Ahmed Al Kuwari about ways to strengthen cooperation between the two countries. They met on Sunday (16) in Saudi Arabia during an IMF conference.
A report released by the International Monetary Fund on Tuesday (11) presents a projection of growth for the economy of the Arab country, mainly based on public investments, strong tourism, and the increase in natural gas production.
The outlook for this year points to expansion with controlled inflation, even amid rising domestic demand in the North African country.
The International Monetary Fund praises the country’s economic policy management and economic resilience but warns about regional instabilities and climate challenges.
The International Monetary Fund’s projection takes into account the resilience of the country’s maritime shipping sector, despite regional conflicts. The Port of Djibouti is the main driver of the local economy.
The Central Bank of Libya has taken a series of measures in the foreign exchange market that are benefiting the economy, according to an analysis by the IMF. Disruptions in oil production led the institution to lower the country’s GDP growth forecast for 2024, but the estimate for 2025 has improved.
After meetings to review the financing program for Egypt, the International Monetary Fund issued a statement on the country’s economy. There has been progress with the implemented reforms, reflecting on the balance of exchange rates and inflation, but the regional environment, with the conflict in Gaza and attacks in the Red Sea, impacts the economic landscape.
The declaration from the summit of the bloc, which is taking place in Russia, advocates for changes in international organizations, allowing more space for less developed countries. Brazil’s President Lula participated online. Thirteen new countries will be invited to join BRICS as partner states.
GDP growth is lower than that recorded in 2023 due to the slowdown in the extractive sector. In a meeting with local authorities, the fund released new disbursements to the country.
The Arab country’s GDP may slow down in 2024, the same as it did in 2023, but an expected reversal of oil production cuts paves the way for 2.8% growth next year, the IMF said.
Last year, the Saudi economy was boosted by private consumption and non-oil investment. According to the IMF, the country is making progress in its diversification efforts. Non-oil GDP is expected to grow by 3.5% in 2024.
According to an IMF report, Egypt is showing signs of recovery, with a better inflation rate and positive results of the unification of the exchange rate.
