Middle East & North Africa Economic Forecast

Economic Snapshot for MENA

October 6, 2021

GDP forecast to expand solidly in 2021

Regional GDP will expand robustly this year as oil exporters are set to gain from higher average crude prices and the easing of OPEC+ cuts. In 2022, growth should accelerate as the vaccine rollout and pent-up demand support domestic activity. Moreover, oil output should rise next year as OPEC+ further reduces production cuts.

Inflation to ease

Regional inflation was stable at July’s 13.7% in August as subdued price pressures in Saudi Arabia were offset by stronger inflation in Egypt and Lebanon. This year, regional inflation should average higher than in 2020 due to recovering output. Next year, inflation should moderate as some supply chain disruptions ease.

 
 

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