Islamabad:
The International Monetary Fund (IMF) has stated that conflicts in Sudan, Gaza, Lebanon, Syria and Yemen have caused serious damage to the global economy.
In its regional economic viewing report for the Middle East and Central Asia, the IMF noted a significantly expected decline in growth among non-GCC oil exporters by 2025.
The IMF also highlighted signs of economic recovery in Pakistan with improved agricultural production after recent floods. Among Middle Eastern oil importers, growth is expected to reach 3.4% by 2025.
It said 4 million people have been displaced in Sudan because of a civil war; While over 50,000 and 4,300 people have been killed in Gaza and Lebanon respectively.
According to the report, 60% financial contraction has been witnessed in Syria, while there is a sustained high inflation in Lebanon. It said in Egypt and Jordan, economic growth remains under pressure because of the regional waste of conflicts.
The report also stated that Pakistan has increased its interest rate by 550 basic points to reduce its fiscal deficit. In total, public funding needs in Pakistan and Middle Eastern and North African (Mena) countries are estimated at $ 263 billion in 2025.
