The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
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The Arab country’s economy is projected to sustain its 2023 growth rate this year, according to the Fund’s projections. The IMF approved a new disbursement to support Jordan’s economic development.
Projections by the International Monetary Fund also estimate a deficit for 2024 due to the slowdown in economic activity and increased public spending.
Mubadala Capital energy firm headquartered in Bahia launched at COP28 a renewable fuel project based on the oil harnessed from macaúba, a Brazilian native fruit.
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.”
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.
The IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country’s economy could grow by 5%.
The fund and local authorities agreed to a USD 1.2 billion loan. The country is expected to grow 2.6% this year.
An International Monetary Fund mission warned that geopolitical tensions and environmental challenges could affect the country’s growth.
A report from the International Monetary Fund points out that the Arab country keeps facing enormous economic challenges, with a collapsed banking sector, inflation in triple digits, and worsening poverty.
Price increases are expected to alleviate in 2023, but global growth is also projected to fall, according to the World Economic Outlook. In most economies, amid the cost-of-living crisis, the priority remains achieving sustained disinflation.
The Egyptian government is entering a new phase of rationalizing expenses, postponing new projects budgeted in dollars, and spending solely on essential needs.
After a mission to the country, International Monetary Fund staff assessed the Lebanese economic situation and pointed out actions that could bring an upturn.
