While the Washington-based IMF predicts a strong rebound in global GDP growth in 2021, the effects of the Covid-19 pandemic will torment the Middle East market for years to come.
On 14 April, the IMF said GDP growth in the Middle East and North Africa (Mena) region will fall to -3.3 per cent in 2020 because of its exposure to lower oil prices and the oversized importance of travel and tourism.
With the region starting to come out of 'The Great Lockdown', as the IMF dubs the containment measures, MEED Business Review assesses the force majeure effect of Covid-19.
Included in the May issue:
- AGENDA: Covid-19 sparks contract issues
- OIL PRICES: Oil producers’ pact faces coronavirus test
- IRAQ: Protests persist amid Covid-19
- IMF REPORT: Middle East economy faces tough year
- BANKING: Covid-19 raises pressure on regional banks
- CONTRACTOR RANKING: Dramatic change for GCC construction
- EGYPT SPECIAL REPORT: Cairo enjoys vindication in growth forecasts
- BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
We hope you find the May issue of MEED Business Review informative.
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