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IMF more optimistic on economic growth prospects for Middle East and North Africa
Updated: 2021-10-20 05:36:29 KST
The IMF is feeling a touch more optimistic about the growth prospects for the Middle East and North Africa this year and the next, citing a recovery from the pandemic.
The agency has raised its projection for the so-called 'MENA' region to 4.1 percent this year, from an earlier estimate of 4 percent.
It attributed the upward revision to rapid vaccine roll-outs in some parts of the region as well as financial measures taken at the start of the pandemic.
Growth for 2022 was forecast to be 4.1 percent, up from April's estimate of 3.7 percent.
However, the IMF added the recovery is uneven, and noted risk factors like inflation and unemployment.
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