EBRD raises forecast for the southern and eastern Mediterranean region

June 29, 2021
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The European Bank for Reconstruction and Development (EBRD) is raising its economic growth forecast for the southern and eastern Mediterranean(SEMED) region to 3.5 per cent in 2021, according to its latest Regional Economic Prospects.

The return to growth follows a 2.1 per cent decline in gross domestic product (GDP) in 2020. However, the Bank warns that the speed of recovery would vary from economy to economy, reflecting the slow recovery in tourism, mounting fiscal pressures and political uncertainty across the region.

For 2022, the EBRD economists expect continued growth of 4.6 per cent, provided the region’s economies are supported by structural reforms, a recovery in foreign investment and stronger trade flows.

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Press release

Countries covered:

  • Egypt
  • Jordan
  • Lebanon
  • Morocco
  • Tunisia