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FinancialNews


  • 22-08-22

    Arab economies record 5.4 percent expansion rate in 2022

    (MENAFN) Arab nations might record 5.4 percent in their financial expansion in 2022, because of high oil costs and on-going financial reforms, according to the Arab Monetary Fund.

    The GCC countries might see a relatively high expansion rate of 6.3 percent this year, in contract with 3.1 percent the last year, riding on the back of a faster bounce back from the Covid-19 epidemic, financial reforms and continued approval of stimulus packages.

    The Fund, on the other hand, has expected the GCC economies and also that of the Arab nations to expand at slower places of 3.7 percent and 4 percent correspondingly next year.

    The expected recession in the financial expansion of the two blocks in 2023 were as a result of the drop in worldwide financial growth, commodity costs, and gradual exit from expansionary economic and financial rules, AMF stated in its latest Arab Economic Outlook Report (AEOR).


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