The World Bank has raised its 2025 growth forecast for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region to 2.8%, up from 2.6% projected in April, citing stronger economic activity in Gulf countries and a faster-than-expected easing of oil production cuts by the OPEC+ alliance.
The Washington-based institution noted that the region’s growth will be supported by the gradual unwinding of oil supply restrictions and a robust expansion in non-oil sectors, particularly in Gulf economies that continue to diversify their sources of income, reports Al-Rai daily.
However, the World Bank slightly lowered its growth outlook for next year, reflecting near-term challenges before stronger momentum resumes in 2025.
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