After a visit to the country and discussions with Kuwaiti authorities, the International Monetary Fund says the economy is projected to contract by 1.4% in 2024.
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The International Monetary Fund (IMF) said that notwithstanding the pickup in growth, continued efforts to address water scarcity and enhance governance are essential to bolster Morocco’s growth.
GDP ed an annual 2.8% decrease thanks to a drop in oil activities.
This Monday (3), the Brazilian Central Bank released the financial market’s new growth estimate for the country’s GDP, 2.19% for 2023. Last week’s projection was at 2.18%.
MENA economies are expected to grow by 2.2% this year, the World Bank said. The institution forecasted the highest growths for Djibouti, Egypt and Qatar but a slowdown for Syria, Iraq, Lebanon and Yemen.
Brazil’s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.
The country’s economy grew last year compared to 2021, mainly driven by services and industry. Agriculture was down.
According to a study released by ApexBrasil, Qatar’s real Gross Domestic Product could grow 4.3% from last year. Rising hydrocarbon prices and the World Cup are expected to drive economic activity.
After a mission to the country, International Monetary Fund staff assessed the Lebanese economic situation and pointed out actions that could bring an upturn.
Economic growth prospects could bring opportunities to Egypt, said the Market Analysis coordinator of ApexBrasil in a webinar this Tuesday (13).
Brazil’s Gross Domestic Product increased from April to June compared to the first three months of the year, mainly driven by the services sector. In the first half, the country grew by 2.5%.
The International Monetary Fund has raised its growth forecast for Brazil to 1.7%. The previous report had been made public last April.
Saudi Arabia’s National Transport and Logistics Strategy aims to increase the contribution of the transport and logistics sector to 10% of the GDP, up from its current rate of 6%.
The average expected growth for the Qatari economy in 2022 is 2.8%. Estimates range from 1.6% to 3.7%.
