GDP of Arab Countries Likely to Shrink by Nearly 4.0% in 2020: Arab Monetary Fund

The economies of all Arab countries are likely to decline in 2020, apart from Egypt’s, which is projected to grow by 2% in 2020, according to the Arab Monetary Fund (AMF), in its latest Arab Economic Outlook Report.

The AMF reported that the gross domestic product (GDP) of Arab countries is expected to shrink by nearly 4.0% in 2020, with Arab oil exporters facing a decline of 4.7%. Meanwhile, Arab economies that are more diversified are expected to shrink by 2.0% in 2020.

The declines in GDP were attributed to challenges faced by Arab governments as they cope with the global impact of the COVID-19 pandemic. According to the report, the global economy is expected to decline by...