EBRD expects accelerated growth of 3.4 per cent in the SEMED region

May 16, 2024
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The European Bank for Reconstruction and Development (EBRD) is forecasting accelerated average growth of 3.4 per cent in gross domestic product (GDP) for 2024 in its southern and eastern Mediterranean (SEMED) region, according to the Bank’s latest Regional Economic Prospects report, published today.

Growth in the SEMED region is expected to accelerate from 2.7 per cent in 2023 to 3.4 per cent in 2024 and 3.9 per cent in 2025, as economic stabilisation programmes and reforms take effect. Nonetheless, this is a downward revision from the previous forecast for 2024, owing to slower-than-expected implementation of large public investment projects in Egypt and to spillovers from the war in Gaza.

Overall, the region has shown resilience in the face of the war in Gaza and rising regional political and security tensions over the past months, although Jordan has seen a drop in tourism and investment while Tunisia has continued to struggle with financing constraints.

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Countries covered:

  • Algeria
  • Egypt
  • Israel
  • Jordan
  • Lebanon
  • Libya
  • Morocco
  • Palestine *
  • Syria *
  • Tunisia