IMF Slashes Growth Forecast for Middle East Exporters as Oil Prices Dip

The International Monetary Fund (IMF) has downgraded its economic growth forecast for the oil exporters in the Middle East to 2.3% from 4% expected in October, due to the slide in oil prices. “Across the region, rising trade tensions and policy uncertainty are adding to the impact of conflicts and extended oil production cuts to weaken growth prospects,” the IMF said on Thursday in its Regional Economic Outlook for the Middle East and Central Asia. The IMF expects oil prices to decline in 2025 to $66.90 per barrel, nearly $6 below the…