Mubasher: Economic growth in Arab countries is expected to rise in 2016 by about 2.8% and 3.1% in 2017, according to the latest ‘Arab Economic Outlook Report’ released by the Arab Monetary Fund (AMF) on Saturday.
The report, which includes forecasts on the economic performance of Arab states in 2016 and 2017, said that estimations it showed is based on expectations of a recovery in global oil prices and economy.
Since mid-2014, oil prices declined by more than 70% to the levels of $20 per barrel, versus $105 pb, amid a supply glut and a fall in demand.
The report also showed a decline of 2.5% in the economic growth in the GCC countries in 2016, with growth is forecasted to increase 2.6% in the next year, backed by the expected rise in oil prices.
Inflation rates in Arab countries are expected to leap by 7.4% and 8.1% in 20169 and 2017 respectively.
