The International Monetary Fund (IMF) said the Russian invasion of Ukraine is significantly affecting the growth prospects of the developing economies in the Middle East and North Africa (MENA), while oil-exporting countries benefit from higher crude prices.
In its "Regional Economic Outlook: the Middle East and Central Asia," the IMF said that growth in the GCC countries is projected to accelerate from 2.7 percent in 2021 to 6.4 percent in 2022, an upgrade of 2.2 percentage points from October, mainly due to upward revisions for Saudi Arabia.
