Arab Monetary Union expects Arab economies to grow by 2.9 percent in 2018
19/9/2017 12:00 am
[rtl]Dubai / Follow-up morning
Arab Monetary Fund estimates that Arab economies will grow by 2.9 percent next year compared to 1.9 percent this year, the director-general of the Arab Monetary Fund, Abdel Rahman bin Abdullah al-Humaidi, said.
Al-Humaidi attributed the Arab Monetary Estimate to the efforts and policies of economic and financial reform in the Arab countries, the expectations of improving oil prices and the improvement in global demand. He added that the expected growth rates of the Arab countries are still below the level that helps to achieve the reduction of unemployment and poverty in the Arab region. The Arab Monetary Fund held a meeting of the Board of Governors of Central Banks and Arab Monetary Institutions under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs of the United Arab Emirates.
He stressed that these economies were particularly affected by the slowdown in international trade, the survival of oil prices at relatively low levels, as well as the impact of foreign capital flows to developing countries, as well as the continuation of the return of the traditional tracks of American monetary policy . Al-Humaidi pointed to the signs of relative recovery of global economic activity, as the estimated growth rates for 2017 and 2018 will be better than the 2.66% achieved in 2016. He pointed out that this recovery faces a number of challenges, the most important of which is the weak productivity and the continuing uncertainty about economic policy paths in developed economies.[/rtl]