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IMF Reveals Shocking Impact of Oil Cuts & Gaza Conflict on Middle East Growth: What's Next?

The International Monetary Fund (IMF) announced on Sunday that economies in the Middle East are falling short of growth expectations due to reductions in oil production and the conflict between Israel and Gaza, despite a generally robust global economic outlook. Kristalina Georgieva, the IMF's managing director, highlighted the resilience of the global economy during her speech at the Arab Fiscal Forum in Dubai, but cautioned about the potential broader effects on regional economies if the Gaza conflict persists.


Last month, the IMF adjusted its GDP growth forecast for the Middle East and North Africa (MENA) region to 2.9% for this year, a decrease from earlier projections in October, attributing the decline partially to temporary oil production cuts and ongoing tensions in Gaza.

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