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09 Apr
14:05

MENA could see first recession in three decades

The Middle East and North Africa could see in 2020 its first economic recession in three decades owing to the effects of the Covid-19 pandemic, says the Institute of International Finance (IIF). Quarantines, disruption in supply chains, the crash in oil prices in light of the breakdown of OPEC+, travel restrictions, and business closings all point to this. “Governments are trying to mitigate the economic damage with stimulus packages, but many are starting f…
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