Complex Made Simple

World Bank forecasts Middle East growth at 4.3%

The World Bank has said that the Middle East and North Africa region is expected to enjoy stronger gains of 4.3% and 4.4% in 2011 and 2012, respectively, after advancing 3.3% in 2010, as domestic demand growth continues, export markets firm, and oil prices remain at high levels, Kuna has reported. Growth in high-income GCC member states have contributed to reactivating exports, boosting expatriates' remittances and surging tourist earnings in the Middle East region, sending the region's economic growth into up 3.3% last year, the Global Economic Prospects 2011 report said.