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Message: Middle East remain sound because of growing domestic demand

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Middle East remain sound because of growing domestic demand

posted on Oct 28, 08 05:36AM

According to the International Monetary Fund (IMF), fundamentals in the Middle East remain sound because of growing domestic demand and strong performance in non-oil sectors. In its October World Economic Outlook, the IMF predicted regional GDP growth of 6.4% in 2008, up 0.2% from its July estimate based on continued private investment and ongoing construction of public projects.

In 2009, the IMF estimates economic growth in the Middle East will fall to 5.9%, which will be in line with 2007 levels.

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