World
Bank Raises 2025 Growth Forecast for Middle East Region
Washington,
7 Oct (ONA) — The World Bank has raised its growth projections for the region
comprising the Middle East, North Africa, Afghanistan, and Pakistan for 2025,
although it revised its estimates downward for the upcoming year. The
institution attributed these forecast adjustments to ongoing conflicts and
reduced oil production in Iran and Libya.
The
Washington-based bank projects that the average GDP growth for the economies of
the Middle East, North Africa, Afghanistan, and Pakistan will reach 2.8 percent
this year, up from the 2.6 percent growth forecast it issued in April.
This
revision reflects improved economic activity in the Gulf states, driven by a
faster-than-expected phase-out of oil production cuts alongside growth in the
non-oil sector.
—
Ends/Khalid
