The outlook for global growth is stable for the current and next years
The outlook for global growth is stable for the current and next years
Capitals / follow-up Shukran al-Fatlawi
An IMF report highlighted the growth of the global economy, the Middle East and North Africa, where the IMF kept its outlook for global economic growth unchanged for the current and next year while adjusting growth forecasts for the euro zone and China upwards. A marked slowdown in 2017 for the growth of the Middle East and North Africa economy, Saudi Arabia's growth is likely to fall to zero, the International Monetary Fund said Monday. Gross world product. In the latest World Economic Outlook, the report said the GDP growth rate would be 3.5 percent in 2017 and 3.6 in 2018. The latest IMF forecast was released in April.
The International Monetary Fund's June report lowered the US growth forecast for 2017 and 2018 to 2.1 percent from 2.3 percent and 2.5 percent respectively three months ago.
The IMF forecast slightly stronger growth in the euro area in 2017, 1.9 percent, up 0.2 percentage points from Nissan.
For the next year, the IMF said growth in the single currency area would rise slightly to 1.7 percent, up 0.1 percentage points from expectations three months ago. Expectations of growth, slowdown and reduction Fund growth forecasts in Britain 0.3 percentage points to 1. 7 percent, down weaker than expected in the first quarter and keeping growth forecasts for the year ahead 2018 unchanged at 1.5 percent. For China, the fund expected stronger growth of 6.7 percent in 2017, 0.1 percentage points higher than the forecast in April. But it will slow in 2018 to 6.4 percent, but it is 0.2 percentage points higher than Nissan's forecast based on expectations that Beijing will maintain a high level of public investment. Middle East economy Economic growth in the Middle East and North Africa is slowing down this year, while growth in Saudi Arabia is expected to fall to around zero.
After a better-than-expected performance in 2016 with a growth rate of 5 percent, this figure will not exceed 2.6 percent this year in the Middle East and North Africa, as well as Afghanistan and Pakistan. Last year's good performance was mainly due to strong growth of over 6, 5 percent in Iran thanks to the high level of oil production, according to the Fund. The outlook for the global economy, however, has reduced its outlook for growth in Saudi Arabia, the world's top crude exporter, to just 0.1 percent from 0.3 percent in April. It would be the lowest growth in Saudi Arabia since 2009, when the economy contracted by 2 percent on the back of declining oil revenues after the global economic crisis .
"If the current decline in oil prices continues, it could further affect the prospects of oil exporters in the region," the IMF warned. The deal cut supply after an improvement to more than $ 55 a barrel thanks to a deal to reduce supply among the oil-producing countries of the Organization of Petroleum Exporting Countries "OPEC" On the other hand, especially between Saudi Arabia and Russia, the price of the barrel has returned to below $ 50. However, the IMF expects regional economic growth to improve by 3.3 percent in 2018. Middle East oil exporters have lost hundreds of billions of dollars since the collapse of oil prices in mid-2014, and the huge surplus in their budgets has turned into a deficit. To counter this situation, these countries have been forced to adopt austerity measures and reform their monetary and economic policies, especially through increased prices of fuel and electricity.
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