Islamabad:
The International Monetary Fund (IMF) has declared that conflicts in Sudan, Gaza, Lebanon, Syria and Yemen have caused serious damage to the global economy.
In its regional economic perspective report for the Middle East and Central Asia, the IMF pointed out a significant and projected decrease in growth among oil exporters that are not GCC in 2025. The report said that the ongoing conflicts in Sudan, Gaza, Lebanon, Syria and Yemen have severely harmed their economies.
The IMF also highlighted the signs of economic recovery in Pakistan, with a better agricultural production after recent floods. Among the oil importers of the Middle East, growth is expected to reach 3.4% in 2025.
He said that 4 million people have been displaced in Sudan due to a civil war; while more than 50,000 and 4,300 people have been killed respectively in Gaza and Lebanon.
According to the report, an economic contraction of 60% in Syria has been witnessed, while there is a high persistent inflation in Lebanon. He said that in Egypt and Jordan, economic growth remains under pressure due to the regional demolition of conflicts.
The report also declared that Pakistan has increased its interest rate by 550 basic points to reduce its fiscal deficit. In total, the public financing needs of Pakistan and the countries of the Middle East and North Africa (MENA) are estimated at $ 263 billion in 2025.
