In 2024, Arab economies are predicted to grow by 3.3%, an increase from 2.2% in 2023. The Arab Monetary Fund noted this in their annual report, adding that the inflation rate of the Arab countries is projected to decline to 3.3% this year, as compared to 9.3% in 2023. 

In 2023, the report said Arab economies in 2023 were significantly impacted by regional and international developments, including the implementation of tighter monetary policies to control inflation and fluctuating commodity prices.

Fahad Al-Turki, director general and chairman of AMF, said, “The vulnerability of Arab countries to these developments varied according to their financial situation and the extent of their direct exposure to the developments, as well as the reforms undertaken by Arab countries to diversify their economies and enhance their resilience to shocks,” he added.  

Earlier this month, the World Bank projected that economic growth in the Gulf Cooperation Council region will expand by 2.8% in 2024 and 4.7% in 2025.