DUBAI, United Arab Emirates—The Middle East is expected to see significant economic growth this year, but also soaring inflation and food prices, as coronavirus vaccines are unevenly rolled out across the region, the International Monetary Fund said Tuesday.
The lender’s new report projects the region’s economies will grow by around 4 percent, while inflation will reach 17 percent this year in oil-importing countries. It said the situation is particularly dire in countries already facing severe economic crises, such as Lebanon and Afghanistan. The IMF said globally, inflation is rising in part due to pandemic-related supply shortages.
