World Bank revises downwards growth rate forecasts for Tunisia, Egypt in 2024/2025

The World Bank has revised Tunisia’s 2024 economic growth forecast downward to 1.2%, compared to the 2.4% projected in April 2024. In its October 16, 2024 report, “Growth in the Middle East and North Africa,” the Bank expects Tunisia’s growth to stabilize at 2.2% in 2025.

The report cites weak growth across the MENA region, driven by uncertainty from ongoing conflicts. The region’s GDP is projected to rise modestly to 2.2% in 2024, up from 1.8% in 2023, largely due to improved cooperation with Gulf countries. However, growth in oil-producing nations is expected to decline, with oil-supplying countries seeing a drop from 3.2% in 2023 to 2.1% in 2024, and non-Gulf oil exporters falling from 3.2% to 2.7%.

The World Bank also lowered Egypt’s growth forecast for fiscal year 2024/2025 to 2.5%, down from 4.2% in June, due to factors like weak manufacturing, import restrictions, and reduced gas and shipping activities. Growth is expected to recover to 3.5% in 2025/2026.

The report highlights the potential for the MENA region to boost growth by embracing technology, expanding international trade, and improving data transparency to drive innovation and knowledge-sharing.

World Bank revises downwards growth rate forecasts for Tunisia, Egypt in 2024/2025
The World Bank has revised Tunisia’s 2024 economic growth forecast downward to 1.2%, compared to the 2.4% projected in April 2024. In its October 16, 2024 report, “Growth in the Middle East and North Africa,” the Bank expects Tunisia’s growth to stabilize at 2.2% in 2025.

The report cites weak growth across the MENA region, driven by uncertainty from ongoing conflicts. The region’s GDP is projected to rise modestly to 2.2% in 2024, up from 1.8% in 2023, largely due to improved cooperation with Gulf countries. However, growth in oil-producing nations is expected to decline, with oil-supplying countries seeing a drop from 3.2% in 2023 to 2.1% in 2024, and non-Gulf oil exporters falling from 3.2% to 2.7%.

The World Bank also lowered Egypt’s growth forecast for fiscal year 2024/2025 to 2.5%, down from 4.2% in June, due to factors like weak manufacturing, import restrictions, and reduced gas and shipping activities. Growth is expected to recover to 3.5% in 2025/2026.

The report highlights the potential for the MENA region to boost growth by embracing technology, expanding international trade, and improving data transparency to drive innovation and knowledge-sharing.