The state of the world economy…Coordinated slowdown and uncertain recovery
The IMF also lowered its growth forecasts for Saudi Arabia and Iran, the two largest economies in the Middle East, on the back of U.S. sanctions, regional tensions, and falling oil prices.
The International Monetary Fund (IMF) predicted that Iran’s economy would contract by 9.5 percent after earlier forecasts of 6 percent. The Saudi economy grew by 0.2 percent against earlier forecasts of 1.9 percent growth.