IMF: MENA's economies to grow by 4.2% in 2010.

By bne IntelliNews May 26, 2010

According to a report by the International Monetary Fund (IMF), the gross domestic product (GDP) of the MENA region is expected to grow by 4.2% in the current year from 2.3% growth in 2009. The rate is seen to expand further to 4.65 in 2011, the IMF said. The Fund attributed the growth acceleration this year to the increase of capital inflows, rising crude oil prices and recovery of domestic consumption. However, it pointed out that stress in the banking and financial sectors along with slow credit activity remained to pose a threat to the region's economy.

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