imf iran nuclear deal to boost mideast economy
Last Updated : GMT 17:31:38
Arab Today, arab today
Arab Today, arab today

IMF: Iran nuclear deal to boost Mideast economy

Arab Today, arab today

Arab Today, arab today IMF: Iran nuclear deal to boost Mideast economy

Iranian Foreign Minister Mohammad Javad Zarif (R)
Dubai - AFP

Iran's landmark nuclear deal will lift economic growth in the war-plagued Middle East next year as the rolling back of sanctions brings a rebound in oil exports, the IMF said Tuesday.

But the outlook for this year has worsened over the past six months, partly because of the conflicts raging in Yemen and Libya, the International Monetary Fund said in its semi-annual World Economic Outlook.

But growth in the Middle East and North Africa will "pick up substantially in 2016, supported by accelerated activity in the Islamic Republic of Iran," it said.

"The lifting of sanctions... should allow for a recovery in oil production and exports," it added, while predicting "a gradual improvement in the outlook for countries severely affected by conflicts, such as Iraq, Libya and Yemen".

Regional growth is seen slowing to 2.3 percent this year from 2.6 percent in 2014, before rebounding to 3.8 percent in 2016.

Oil exporters, which include the Gulf states, Iran, Iraq, Yemen, Libya and Algeria, account for most of the weakness in growth this year.

"Spillovers from regional conflicts and intensified security and social tensions are weighing on confidence and holding back higher growth," the IMF said.

"Low oil prices are taking a toll on the outlook for oil exporters," it added, projecting oil prices will average $52 a barrel this year.

Iran's economy is set to grow a meagre 0.8 percent this year but expand a healthy 4.4 percent in 2016 following the agreement reached between Tehran and major powers in July.
The deal seeks to curb Tehran's nuclear programme in exchange for the lifting of crippling international sanctions.

"Without sanctions, the Islamic Republic of Iran is expected to increase its capacity to 500,000 to 800,000 barrels a day within two years," IMF said.

Another bright spot for next year is Iraq, OPEC's second largest crude exporter, which is expected to see a 7.1 percent expansion, following zero growth this year.

OPEC kingpin Saudi Arabia, the largest economy in the region, is forecast to grow by 3.4 percent this year followed by 2.2 percent next year, the IMF said.

The economy of impoverished Yemen, where pro-government troops backed by an Arab coalition are battling rebels who control large parts of the country, is expected to expand 11.6 percent in 2016 after a 28.1 percent crash this year.

Source: AFP

arabstoday
arabstoday

GMT 01:56 2017 Wednesday ,22 November

AED51.4b approved for 2018 Federal Budget

GMT 23:41 2017 Tuesday ,21 November

DFM welcomes delegation from Indonesian Stock Exchange

GMT 23:05 2017 Tuesday ,21 November

We must preserve our national gains

GMT 15:25 2017 Tuesday ,21 November

Ratings boost for Saudi reform program

GMT 11:46 2017 Tuesday ,21 November

S&P affirms Saudi Arabia credit ratings

GMT 23:37 2017 Monday ,20 November

Midfield Terminal Building is 86% complete

GMT 22:55 2017 Monday ,20 November

GCC pavilion to showcase at Expo 2020 Dubai
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf iran nuclear deal to boost mideast economy imf iran nuclear deal to boost mideast economy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf iran nuclear deal to boost mideast economy imf iran nuclear deal to boost mideast economy

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday