(MENAFN) The Mideast's oil importing countries are forecast to record a growth of 4 percent this year, up from the 3 percent logged last year, driven by a recovering local confidence, Gulf News reported.
Additionally, the Middle East growth was also motivated by the recovering economies of Europe and more integrated domestic financial and pecuniary policies.
"The benefits of lower oil prices are visible in improved fiscal/quasi-fiscal positions and reduced external vulnerabilities rather than stronger growth," the Director of the IMF's Middle East and Central Asia Department said.
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