IMF Cuts Middle East Growth Outlook on Oil Output Cuts and Conflicts

Economic growth in the Middle East and North Africa is expected to remain sluggish at 2.1% this year, amid ongoing conflicts and prolonged OPEC+ oil production cuts, the International Monetary Fund (IMF) said on Thursday, slashing its GDP growth view by 0.6 percentage point compared to an April forecast. High uncertainty over economic growth in the MENA region in the near and medium term persists, with key risks including escalating conflicts, increased geo-economic fragmentation, and commodity price volatility, the IMF said in its latest regional...