This summary of the 2023–2024 ESCWA survey of economic and social developments in the Arab region considers the impact of the latest developments in the global economy on the Arab region. The 2024–2025 outlook for the region is clouded by uncertainties. The war on Gaza, for instance, has entered its seventh month, and its repercussions on neighbouring countries and on international trade are intensifying. At the same time, persistently high interest rates mean that countries in the region are still suffering from increased borrowing costs. Some countries are facing challenging economic conditions, armed conflicts and high levels of poverty. The fiscal position of many countries remains difficult, with a decline in global energy prices threatening debt sustainability.
To read the full article: click here
Comments are closed, but trackbacks and pingbacks are open.