Inflation in the Middle East and North Africa was predicted to rise to 12.1% this year in the International Monetary Fund study on the prospects for the region’s economy in the Middle East and Central Asia.
The report, published by the Fund today, Monday, said that inflation increased suddenly, and the region faces an atmosphere of exceptional uncertainty and the risk of negative developments, expecting the real region’s real economy to grow by 5% this year, from 4. 1% in the past year.
He pointed out that it is expected that the exacerbation of the global situation with its burdens on the horizons will be fulfilled in the next year, with the slowdown and reaching of 3. 6% in 2023, indicating that the increase in oil prices and the strength of the growth of GDP, non -oil product of oil exporting countries will compensate for losses from the impact of high food prices.
Additionally, the fund anticipated that the region’s oil-exporting nations’ economies would expand by 5.
2% this year versus 4. Growth slowed to 3.0% in 2023 from 5% previous year. 5%, and that the GDP growth rate for middle-income and emerging-market nations will be 4. 9% in 2022 which is This means that it is estimated at the expectations of last April.
According to the expectations of the Fund, the ongoing increase in the prices of basic commodities and the widespread scarcity of food may cause food insecurity, causing social unrest and placing pressure on public finances. Additionally, the tight financial conditions may more quickly than anticipated result in the emergence of risks to debt and financial stability, increasing the group of emerging economies’ chances of entering the market and risking falling financing.
Citation: CNN.
The Middle East and North Africa region’s inflation is anticipated to rise, according to the IMF.
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