Interview with Jihad Azour, director of the Middle East and Central Asia Department, International Monetary Fund (IMF)

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), speaks with Economy Middle East about the region’s economic outlook, global trade risks, and oil market dynamics.

He explains that growth in the MENA region is projected to reach 3.5 percent in 2025, driven by a strong recovery in oil-exporting countries—particularly the GCC—led by non-oil sector expansion and increased oil production.

On global trade tensions, Azour shares that the direct impact on MENA remains limited due to low trade integration and the exclusion of oil and gas from tariffs. However, he warns of indirect effects such as lower demand, increased financial market volatility, and trade diversion, which could make the region more vulnerable.

Addressing oil price volatility, Azour notes that its impact varies by country, depending on how diversified their economies are.

For more insights watch the full interview.