The IMF has downgraded its projections for global growth this year and next. The MENA region, hit by war, instability, and falling oil prices, sees the biggest downgrade of all.
Real GDP growth in the MENA region is projected at 2.6% in 2014 and 3.8% in 2015, a downgrade 0.5 and 1.0 percentage points respectively from the projections announced in July, according to the IMF’s latest World Economic Outlook (WEO) released last week. In April 2014 the IMF also lowered its growth projections from October 2013 (MEES, 18 April). (CONTINUED - 560 WORDS)