During the year 2022, the Arab countries of the region were able to distance themselves from the global turbulence caused by geopolitical tensions, the Ukraine-Russia war, the energy crisis, the escalation of inflation and the fluctuations of the markets, thanks to their generally strong economic performance.
Forecasts by Bank of Abu Dhabi showed that Cooperation Council countries will continue to outpace growth in global economic performance in 2023.
According to the report of this bank, the growth of the Arab countries of the region should reach 4.2% this year, while it will reach 6.5% at the end of 2022.
The forecast for the Cooperation Council countries contradicts the IMF's assessment of the global economy. The fund announced in late December that 2023 would be the weakest year for global economic growth since 2009, with a growth rate of 2.7%.
At the same time, the International Monetary Fund announced that the economies of Arab countries in the region, led by Saudi Arabia, recorded the highest annual growth rate in a decade at the end of last December due to rising prices. energy and increased production.