Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Including Iraq.. The International Monetary Fund: Possible social unrest in some Arab countries

    rocky
    rocky
    rocky
    NNP TEAM
    NNP TEAM


    Posts : 241548
    Join date : 2012-12-21
    • Post n°1

    Including Iraq.. The International Monetary Fund: Possible social unrest in some Arab countries Empty Including Iraq.. The International Monetary Fund: Possible social unrest in some Arab countries

    Post by rocky Sun 05 Feb 2023, 5:38 am

    [size=30]Including Iraq.. The International Monetary Fund: Possible social unrest in some Arab countries
    [ltr]2023.02.05 - 09:24[/ltr]
    [/size]
    [You must be registered and logged in to see this image.]
      
    Disparities have emerged in the economies of Arab countries for a long time, but the most urgent challenges are what the International Monetary Fund has focused on regarding social unrest that some Arab countries may witness due to the continued rise in commodity prices and the spread of food shortages, which threatens food security and multiplies social challenges.  
      
    [You must be registered and logged in to see this link.]  
      
      
    While some of the data appeared “rosy” for the Gulf oil-exporting countries in the January 2023 report entitled “Updates on Global Economic Prospects: Inflation is Peaking Amid Low Growth” issued by the International Monetary Fund, the reality reflects discrepancies in the countries of the region, especially Those that are threatened by social dangers after they also witnessed new collapses in their currencies, such as Lebanon, Syria, Iraq, and other countries in the region in the Middle East and North Africa that have several economic crises.  
      
    The International Monetary Fund did not comment on the expected prospects for the collapse of some Arab currencies, and on the other hand expressed the social threats resulting from the current economic crises, and gave some advice to be followed by oil-importing and exporting countries.  
      
    The IMF indicated that real GDP growth in the Middle East and North Africa region accelerated to 5.4 percent in 2022 from 4.1 percent in 2021, mainly supported by a strong expansion in oil-exporting economies that benefited from higher oil and gas prices. And the strong growth of non-oil GDP, to compensate for the negative impact of high food prices and high global interest rates, and among the factors contributing to this growth to a lesser extent is the strong momentum of some of the major oil importers in the region, including Egypt, for example.  
      
    He pointed out that "global growth is expected to slow down to 3.2 percent in 2023, due to the deterioration of global conditions and the slowdown in hydrocarbon production."  
      
    On the other hand, the fund said that "despite this slowdown in economic activity, growth in Arab countries is still higher than global growth."  
      
    And he continued, "The fund's expectations are that inflation reached its peak in 2022 and is gradually declining after that, reflecting an economic scene in which commodity prices decline and tight monetary and financial policies."  
      
    As for oil importers, the IMF said, “Fiscal and external vulnerabilities remain high in many countries with high debt levels. In addition, there are still significant downside risks. For example, the continuous increase in commodity prices and the spread of food shortages in these countries could lead to food insecurity that could lead to social unrest, in light of the continuing high unemployment rate, and the increase in financial pressures in oil-importing countries.  
      
    He stressed that "accelerating the correction of fiscal policies in countries where financial resources are limited and tight will be critical to maintaining debt sustainability."  
      
    And he stressed the need to accompany “this with policies to protect vulnerable groups in society to ensure social stability, and on a larger scale to mitigate the cost of living crisis, which requires containing inflation by tightening monetary policy and addressing food insecurity.”  
      
    The region must also continue to work to build resilience to future shocks and advance structural reforms to enhance productivity and inclusive growth.  
      
    The fund stressed that “Saudi Arabia is one of the fastest growing economies during the year 2022. There is a need for strong economic growth to continue raising living standards and increasing economic diversification. Maintaining this high pace of growth will require maintaining a strong reform momentum, such as it has over the past few years, through the implementation of Vision 2030.”  
      
    Saudi Arabia's non-oil sector, which creates jobs, has grown at the fastest pace in more than a year, helping the kingdom post the fastest overall growth among the world's major economies.  
      
    The Fund's latest global economic forecasts indicated a slowdown in the overall growth of economies in the Middle East and Central Asia this year to 3.2 percent, which is 0.4 percentage points lower than its estimates in October, attributing this to reasons including the effects of the war in Europe.  
      
    “The revision for the region mainly reflects the cuts in Egypt and Saudi Arabia, which is partly due to the impact of the war in Ukraine and its repercussions on commodity prices,” said Pierre-Olivier Gorinchas, chief economist and director of research at the International Monetary Fund.  
      
    He added that for Saudi Arabia, the decline in crude oil production within the framework of the OPEC + agreement also has an impact.  
      
    “The situation is very difficult for oil importers in the region, many of whom are heavily indebted, and therefore food prices and energy prices, which are still high, are a burden (…) the cost of living crisis is still existing and influential in that region, so there is also a risk of social unrest.”  
      
    In the report, the fund expected growth in the Middle East and Central Asia to decline from 5.3 percent in 2022 to 3.2 percent in 2023, with a 0.4 percentage point reduction in forecasts since October.  
      
    The fund's expectations indicate a decrease in global inflation from 8.8 percent in 2022 to 6.6 percent in 2023 and 4.3 percent in 2024, two rates that remain higher than pre-pandemic levels (from 2017 to 2019) by about 3.5 percent. The balance of risks remains tilted towards negative developments.  
      
    Quoted from "The Arabs"  
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Wed 29 Mar 2023, 12:28 pm