IMF sees economic growth with higher inflation for Mideast

By AYA BATRAWY and MALAK HARB
Associated Press

DUBAI, United Arab Emirates (AP) — The International Monetary Fund says the Middle East is expected to see significant economic growth this year of around 4% after the turmoil wrought by the coronavirus pandemic. The IMF’s report Tuesday added that food prices are poised to soar in oil-producing countries. That coincides with inflation projected to reach 17% this year as vaccine rollouts remain uneven across the region. The report notes that countries such as Lebanon and Afghanistan are additionally facing severe economic crises. Across the region, about 7 million more people are estimated to have entered extreme poverty over the course of 2020. The lender says unemployment in the region increased to nearly 11%.