At the conclusion of the meetings held in Washington between 17 and 23 April, the International Monetary Fund raised its forecasts for economic growth in the North African and Middle East (including Afghanistan and Pakistan). Overall, the economic outlook for these regions is declining, with the growth passing from + 3.9% in 2016 to + 2.6% this year, due to the reduction in oil extraction decided by OPEC in November, in addition to the political instability in the area. Saudi Arabia would see its growth fall from + 1.4% in 2016 to +0.4% in the current year, while the United Arab Emirates would move from +2.7% to +1.5%. In North Africa, growth prospects in 2017 are decreasing for both Algeria and Egypt, while Morocco, according to analysts at the International Monetary Fund, would see a significant increase in its economic dynamics, which would go from +1.5% in 2016 to + 4.4% in the current year. The positive outlook for the Moroccan economy, developed by the IMF, is expected to continue to grow even in the coming, provided that the country implements the planned reforms aimed at improving the business environment, tax policies and the education system.


Source: medNews