Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said that the world was going through a delicate stage due to successive shocks and uncertainty in the global economic system. He underlined the need for international cooperation to face challenges, especially with the decline in growth rates and high levels of inflation.
In an interview with Asharq Al-Awsat, Azour said the Arab region’s economies were divided into two categories. Those include, on the one hand, countries that have succeeded in dealing with the crisis, mainly the Gulf States, by adopting efficient measures that led to economic recovery of non-oil sectors, increasing production and export capacity, reducing budget deficit rates and achieving budget surpluses.
