Arab countries in the Middle East and North Africa (MENA) are projected to maintain economic growth in the 2016-2020 period, while their combined gross domestic product (GDP) is set to reach $2.82 trillion by the end of 2015.
Pan-Arab GDP is expected to expand by 4.3 per cent in 2016 to $2.94trn, according to a recent International Monetary Fund (IMF) report published by the Al Bayan newspaper.
In 2017, the GDP of the Arab nations of the MENA region is forecast to reach $3.2trn, rising to $3.46trn in 2018, $3.7trn in 2018 and a massive $4trn in 2020.
The figures were highlighted by the newspaper on the occasion of the Arab Strategy Forum (ASF), which opens today in Dubai, under the aegis of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Organisers said that the forum serves as a platform to understand current and forthcoming geopolitical and economic challenges in the Arab world in particular and the world in general.
The gathering brings together thinkers and opinion makers to discuss urgent issues, offering them a platform to draw up measurable and achievable strategies that can help impact a positive change in the world.
($1 = AED3.67, at the time of publishing)