Rising rates and global slowdown pose challenges for economic growth and investment in Arab countries, which expect to expand at 3.4% in 2023, down from 5.6% in 2022.
World Bank lowers MENA’s growth forecast to 2.2 percent in 2023
DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent (in January 2023), thanks to greater-than-expected flexibility in major economies. In its latest report released in June 2023, the World Bank also expected the global growth to reach...
US Federal Reserve’s rate hike risky and ill-timed
"It appears that the central bank is willing to sacrifice parts of the economy and tighten its grip on households and businesses to combat inflation. However, this strategy risks doing more harm than good. It is crucial now that they refrain from further rate hikes to salvage their own credibility,"...
