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IMF slashes growth forecasts

The International Monetary Fund (IMF) has sharply pared back its growth forecasts for key Gulf economies, in its latest World Economic Outlook report, published this week. The downturn is a result of lower oil revenues and a global economic slowdown. It has cut its predictions for economic growth in Iran, Kuwait, Oman, Qatar, Saudi Arabia and the UAE for this year. The IMF is also forecasting lower growth than previously expected in 2020 in all those countries bar Kuwait.

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