IMF sees economic growth with higher inflation for Mideast

Associated press |
Published: 10.19.21, 15:02
The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday.
The lender's new report projects that the region's economies will grow by around 4%, while inflation will reach 17% this year in oil-importing countries. It said the situation is particularly dire in countries already facing severe economic crises, such as Lebanon and Afghanistan.
The IMF said globally, inflation is rising in part due to pandemic-related supply shortages. Food prices have soared to their highest level since 2014, with an expected increase of nearly 28% in 2021.