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Expect a recent report published by the World Bank on its official website, MENA economies grow by 5.2% in 2022, This is the fastest growth rate since 2016. Thanks to the unexpected returns from high oil prices, which are in the interest of the oil-exporting countries in the region, But growing uncertainty surrounds these predictions due to the ongoing war in Ukraine and the ongoing threats from coronavirus mutant.
And the World Bank expected in its report on the latest economic developments, entitled “Reviewing the facts: Growth forecasts for the Middle East and North Africa region in times of uncertainty. For the region to record an uneven recovery, as the averages in the region hide large differences. Oil-producing countries are benefiting from higher prices as well as increased vaccination rates from the coronavirus. Whereas countries with fragility are lagging behind. But the risks of inflation are growing in the whole region due to the tightening of monetary policy at the global level, The unpredictability of the developments of the Corona pandemic, continuing disruptions in supply chains, And rising food prices.
1 – The report indicated that despite the expected growth rate of 5.2%, per capita GDP, It is an indicator of living standards, It will barely exceed pre-pandemic levels.
2 – It is estimated that the per capita GDP will grow by 4.5% in 2022 in the countries of the Gulf Cooperation Council.
3- In 2022, it is expected that the per capita GDP in middle-income oil-exporting countries will grow by 3%, And by 2.4% in the oil-importing countries of the region.
4 – If these predictions come true, 11 out of 17 economies in the Middle East and North Africa may not recover to pre-pandemic levels by the end of 2022.
v5 – until 4th April 2022, The average vaccination rate in the Gulf countries reached 75.7%. It is a much better ratio than its income peers.
