The World Bank expects the Middle East and North Africa region to grow by 2.7% in 2024 and 4.2% in 2025, marking a return to the low growth rates that prevailed in the decade before the global pandemic. This comes as global economic growth is expected to slow for the third year in a row in 2024, with growth trends varying between advanced economies, emerging market economies, and developing economies.
According to a report issued on Monday, the bank expects real GDP growth for the Middle East and North Africa region to be at 2.7% in 2024 and 4.2% in 2025. In addition, the Gulf Cooperation Council countries are expected to experience an economic growth rate of 3% in 2019, with Qatar leading with an anticipated growth of 6%. Bahrain’s economy will grow by approximately 3%, Kuwait by around 3%, Oman by about 3%, Saudi Arabia by around