High Oil Prices Are Fueling Economic Growth In The Middle East ...Middle East

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High Oil Prices Are Fueling Economic Growth In The Middle East
source : OILPRICE ( Middle East ) () 29
In a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnessed a second consecutive year of economic growth, with countries in the region investing in new technologies and projects that could herald greater integration in the years ahead. Whereas global GDP expansion is projected to slow from 6% in 2021 to 3.2% in 2022, sustained high oil prices are set to push GDP growth in the Middle East from 4.1% in 2021 to 5% in 2022, according to an October forecast from the IMF. Although…

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