In a recent address at the Arab Fiscal Forum in Dubai, International Monetary Fund (IMF) Managing Director Kristalina Georgieva highlighted concerns over the sluggish growth of West Asia economies. According to Reuters, Georgieva pointed to factors such as oil production cuts and the Israel-Gaza conflict as major contributors to the region's economic challenges. Egypt's Finance Minister Mohamed Maait acknowledged the potential impact but expressed confidence in the region's resilience. Georgieva also highlighted the potential economic benefits of phasing out energy subsidies in West Asia. However, Georgieva cautioned that countries lacking the necessary infrastructure and skilled workforce to embrace AI technology risk falling behind in the global economic landscape.

Source: The North Africa Journal February 12, 2024 11:43 UTC