Post-COVID Mideast economies look to the Gulf and Egypt
The region took a hard hit from the pandemic, and it’s far from over, but Egypt and Saudi Arabia are managing better than expected.
The beginning of the end of the COVID downturn?
The latest International Monetary Fund (IMF) "World Economic Outlook" report this week signals that the transition to the post-COVID economy may come sooner, and with more firepower, than the previous estimate just three months ago.
The IMF now projects the global economy contracted by 3.5% in 2020, an improvement from its earlier estimate of minus 4.4% in October. Growth is expected to be 5.5% in 2021, up from earlier projections of 5.1%.
The improved forecast is in good part based on an expected surge in economic activity later this year as more people are vaccinated.
