IMF revises economic outlook for the Middle East
The International Monetary Fund (IMF) forecasts a 0.3% contraction in the region’s economy, primarily due to the closure of the Strait of Hormuz, but projects growth of 6.3% next year. The post IMF revises economic outlook for the Middle East appeared first on ANBA News Agency .
The International Monetary Fund (IMF) has revised its economic outlook for the Middle East, projecting a 0.3% contraction this year and a 6.3% growth in 2027. This downward revision is primarily due to the closure of the Strait of Hormuz, which disrupts oil production and exports. Bahrain, Iraq, Kuwait, and Qatar are expected to be the hardest-hit countries due to these disruptions.
Despite these challenges, the IMF forecasts a strong recovery in 2027 as production, logistics, and exports return to normal. The IMF also revised its global economic outlook, projecting a 3.1% growth this year and 3.4% in 2027. The fund attributes these changes to geopolitical factors and technological advancements, particularly the growing impact of AI and related infrastructure investments.
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