The World Bank expects that economic activity in the Middle East and North Africa will witness a moderate recovery in 2021, indicating that there are many challenges due to coronavirus pandemic, according to a Tuesday statement. Growth in Iran is also expected to recover to 1.5 percent due to recovery in domestic consumption, tourism and the mitigation of the effects of COVID-19. Growth in other countries in the region will reach 3.2 percent in 2021, with travel restrictions easing and a slow recovery of domestic demand. The World Bank warned that the economies in the region face a series of obstacles as they seek to get back on their feet. The report emphasized that "the recovery depends on containing the epidemic, stabilizing oil prices, not escalating geopolitical tensions and assuming the vaccine will be launched in the second half of the year."

Source: The North Africa Journal January 05, 2021 18:11 UTC