A delegation from the International Monetary Fund met with local authorities and highlighted the need for economic reforms so that the country can achieve greater growth.
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The Arab country’s Ministry of Economy and Industry authorized food, chemicals, textiles, and engineering companies to operate in the country in Q1 of this year.
An International Monetary Fund report highlights the Gulf Cooperation Council nations’ strategies to increase the digital sector’s share of GDP and make it dominant in government services.
The emirate reported a gross domestic product of USD 326 billion last year, heavily driven by the non-oil sector. The manufacturing sector was the largest contributor, followed by construction.
In a meeting with the cabinet, the president highlighted that the 2025 budget has been approved, and that the country should implement the suggestions made by the International Monetary Fund delegation.
Brazil’s gross domestic product saw its largest growth since 2021. The expansion of industry, construction, and household consumption were some of the key drivers. As unemployment reached the lowest unemployment, Brazilians increased their spending.
The finance minister met with his counterparts after ing through Saudi Arabia on a trip that began last Friday (14).
The Brazilian Minister of Finance discussed his country’s economy during his speech at the IMF conference in Saudi Arabia, where he also held meetings with local ministers to discuss investments, trade, and cooperation.
The outlook for this year points to expansion with controlled inflation, even amid rising domestic demand in the North African country.
At the Arab-Brazilian Chamber, BTG Pactual’s chief economist, Mansueto Almeida, analyzed the global scenario and highlights concerns about Brazil’s fiscal sector. Angela Martins, CEO for Latin America at First Abu Dhabi Bank, shared Arab investors’ perspective on the country.
The institution will launch a financing program to increase the sector’s participation in the economy of the Arab country.
The International Monetary Fund praises the country’s economic policy management and economic resilience but warns about regional instabilities and climate challenges.
The International Monetary Fund’s projection takes into the resilience of the country’s maritime shipping sector, despite regional conflicts. The Port of Djibouti is the main driver of the local economy.
The Central Bank of Libya has taken a series of measures in the foreign exchange market that are benefiting the economy, according to an analysis by the IMF. Disruptions in oil production led the institution to lower the country’s GDP growth forecast for 2024, but the estimate for 2025 has improved.
