IMF: The growth of the Middle East economies will slow due to the reduction in oil production and the Gaza war. The Fund’s director also said that the war has destroyed the economy of the Gaza Strip and the occupied West Bank.
Economic activity in Gaza has declined by 80% between last October and December compared to the previous year, Kristalina Georgieva said. The IMF recommends phasing out energy subsidies within the region's economies, including oil-exporting countries, proposing targeted subsidies as an alternative.