Today's Edition
DUBAI (ALETIHAD)
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said Arab economies are expected to record growth of 3.7% in the coming period, driven by increased oil production and the continued recovery of non-oil sectors, reflecting improved regional economic performance despite global challenges.
In her opening address at the Annual Arab Fiscal Forum, Georgieva noted that the global economy is projected to grow by around 3.2% this year, exceeding previous expectations, supported by stronger global demand and easing financial pressures in several major economies.
Georgieva added that global inflation continues its downward trend, reaching about 3.8% in 2026 before falling further to 3.4% by 2027, aided by lower energy prices and improved efficiency in global supply chains.
Regarding Arab economies, Georgieva highlighted positive indicators, including the return of two Arab countries to international debt markets after an absence of more than three years, signalling stronger public finances and renewed investor confidence.
IMF Managing Director also said remittance flows to Arab countries grew by more than 5%, supported by the recovery of tourism and improving labour markets worldwide, helping enhance financial and social stability in several states.
In a related context, Georgieva pointed to the UAE’s continued progress in strengthening its diversification-based economic model, with non-oil activities accounting for around 80% of GDP, reflecting the success of the country’s long-term economic policies.
The Arab Fiscal Forum is discussing the future of fiscal policies in the region, the role of government technology and artificial intelligence in improving public spending efficiency, financing sustainable development, and advancing partnerships between the public and private sectors.
