Economic Outlook 2024: Middle East and North Africa
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Businesses and consumers around the world will make tough decisions about how to spend and invest their money in 2024, according to the Mastercard Economic Institute’s Economic Outlook 2024 report.
Interest rates, wages and prices remain high relative to pre-pandemic levels, forcing careful prioritization of resources. Consumer empowerment, however, will be driven by moderating inflation, steady real economic growth and varied regional dynamics.
The strong non-oil economic growth in the Gulf Cooperation Council (GCC) is set to continue due to expansionary fiscal policy that’s driving diversification efforts.
Some countries outside of GCC are tightening policy to reduce macroeconomic imbalances.
Some countries outside of GCC are tightening policy to reduce macroeconomic imbalances.
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