Tariff plans by the US and other countries and geopolitical tensions also have created mounting economic uncertainty globally that is weighing down on the region's economies, which could negatively impact their growth by anywhere from 2 per cent to 4.5 per cent, said Jihad Azour, director for Middle East and Central Asia at the IMF.
Countries across the Middle East and North Africa face significant challenges to economic growth as the region faces economic uncertainty due to tariff measures, lower-than-recent oil prices and cuts to financial aid, the International Monetary Fund said Wednesday.
The IMF's regional outlook report for the MENA region (Middle East and North Africa) said Brent crude oil prices which are down from highs above USD 120 a barrel in 2022 are likely to be USD 65 to USD 69 per barrel in 2025 and 2026, making energy-exporting economies vulnerable to market fluctuations.
The story "Tariffs, oil prices, other uncertainties weighing on Mideast economies: IMF" has 476 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Tariffs, oil prices, other uncertainties weighing on Mideast economies: IMF" was covered 6 hours ago by Business Standard, a news publisher based in India.
How trustworthy is 'Business Standard' news outlet?
Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.
The outlet is headquartered in India and publishes an average of 248 news stories per day.
It's most recent story was published 3 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
