FINANCIAL NEWS

Middle East economies to grow 4.2% this year: IMF

24 Oct 2010

(MENAFN) A report issued by the International Monetary Fund (IMF) showed that Middle East economies are expected to expand by 4.2 percent this year and 4.8 percent in 2011, AP reported.

The Washington-based institution said that the region’s oil-importing countries are expected to see their economies grow 5 percent this year, up from 4.6 percent in 2009.

The IMF estimated that creating enough jobs for the oil-importing countries’ unemployed and up-and-coming workers over the next decade would require growth of at least 6.5 percent.

The IMF report includes oil exporters Algeria, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, Sudan, the United Arab Emirates and Yemen, and oil importers Afghanistan, Djibouti, Egypt, Jordan, Lebanon, Mauritania, Morocco, Pakistan, Syria and Tunisia.

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