Analysis
Middle East states seek to stave off global downturn
World Bank report portends trouble for fragile economies; Saudi Arabia looks to copper; Oman invests in hydrogen; Egypt floats its exchange rate; Iran’s currency crisis; Algeria expects to profit.
Russia-Ukraine war propels global downturn
This is going to be a terrible year for the global economy.
The World Bank Global Economic Outlook, released last week, foresees a tilt toward recession, driven in part by the Ukraine war and a related downturn in the US and Europe, which are projected to be drags on, rather than engines of, growth.
Growth forecasts (by the numbers):
