Growth in Middle Eastern and North African oil-exporting economies will accelerate next year as crude production rises, the International Monetary Fund said.
Gross domestic product in those countries will expand 5 percent in 2011 after growing 3.8 percent this year and 1.1 percent in 2009, the Washington-based lender said in its regional Economic Outlook released today.
Those forecasts put oil exporters on course to grow faster than most of the world’s major economies, which are still struggling to overcome the worst global slump since World War II. The IMF said on Oct. 6 that it expects global gross domestic product to expand 4.2 percent in 2011.
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