Middle East & North Africa Economic Forecast

Economic Snapshot for MENA

August 3, 2022

MENA GDP forecast to rise in 2022

Regional growth is set to improve this year. Oil exporting countries will drive momentum: OPEC+ quota increases will boost their crude output, while higher hydrocarbon prices will plump their public finances. Most oil importing countries are set to   grow at weaker paces on higher imported inflation. Risks include food insecurity, extreme weather and Iran-related tensions.

Inflation to dip this year

Regional inflation should dip slightly this year from  021 on lower inflation in Iran, Saudi Arabia and Yemen. However, most countries will actually experience higher inflation, stemming from stronger GDP growth and higher food and fuel prices. Extreme weather and shortages of basic goods due to war in Ukraine are upside risks.

 
 

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