IMF Forecasts Growth 1.1% Amid Iran War

IMF projects MENA real GDP growth 2024 at 1.1%, 2.8 points below pre‑war forecast, with recovery only by 2027.
Energy disruptions from the Iran war will heavily hit Gulf oil‑and‑gas exporters and raise commodity prices for importers like Egypt and Jordan.
War also threatens non‑oil sectors; GCC’s strategic roles in airlines, logistics, fertilizers and chemicals face heightened risks and reduced remittances.
IMF director Jihad Azour highlighted the region’s strategic economic corridor and exposure of oil‑importing countries to Gulf financial flows.