Infograph: IMF forecasts for MENA economies

June 11, 2015 12:26 PM

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Dubai – Mubasher: GCC countries’ combined budget surplus for 2014 of $76 billion (4.5% of GDP) are expected to turn into deficit of $113 billion (8 % of GDP), said the International Monetary Fund.

In its ‘Regional Economic Outlook’ Update issued Tuesday, the fund said that, in the oil-importing countries, growth is expected to strengthen from 3 % in 2014 to 4 % in 2015, supported by a gradual recovery in the euro area, improved domestic confidence, and more accommodative fiscal and monetary policies.

The report also showed that a decline in oil prices would lead to huge losses in revenues by around $380 billion in 2015, compared to previous estimates.

However, it expects continued growth in economies during 2015 for GCC states and countries outside the GCC by 3.5% and 1.25% in a row.


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