Global

Global Economic Prospects: Divergences and Risks in MENA

Recent Developments: The sharp drop in oil prices and conflict are holding back economic growth in the region. In additional to slowing growth, most oil-exporting countries have experienced a significant worsening of fiscal and current account balances as a result of the oil price plunge. Budget adjustments are underway, predominantly through…

World Bank Cuts 2016 Global Growth Forecast to 2.4 percent

The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows. According to the latest update of its Global…