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Good Arab Projections in Economic Prospects Report

Good Arab Projections in Economic Prospects Report

Thursday, 10 January, 2019 - 06:45
An atrium is seen at the World Bank headquarters building during the IMF/World Bank annual meetings in Washington, US, October 14, 2017. Reuters file photo
Washington - Asharq Al-Awsat

The growth rate in the Middle East and North Africa (MENA) region is expected to rise to 1.9 percent in 2019, the World Bank announced this week.

“Despite slower global trade growth and tighter external financing conditions, domestic factors, particularly policy reforms, are anticipated to bolster growth in the region,” it said.

Furthermore, growth among oil exporters is expected to "pick up slightly" this year as the Gulf Cooperation Council (GCC) accelerates to a 2.6 percent rate from 2 percent in 2018, according to the World Bank’s January 2019 Global Economic Prospects report.

"Robust agricultural production and tourism have helped support growth of the oil importers in the region, especially Morocco and Tunisia," it said.

According to the report, Morocco and Tunisia are expected to witness growth of consecutively 3.2 and 2.6 percent.

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