{"id":33786,"date":"2023-08-23T08:10:46","date_gmt":"2023-08-23T08:10:46","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023"},"modified":"2023-08-23T08:51:08","modified_gmt":"2023-08-23T08:51:08","slug":"globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023","title":{"rendered":"GlobalData lowers Middle East and Africa economic growth to 2.8% in 2023"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>London-based data and analytics firm GlobalData has lowered its 2023 growth projection for the Middle East and Africa (MEA) region to 2.8% from its March 2023 estimate of 3.17%.<\/p>\n

The revision was driven by a fall in oil prices and lower crude production, as well as less developed African nations facing challenges from high food prices, complicating their economic recovery, according to the company\u2019s global macroeconomic outlook Q3 2023 update .<\/p>\n

Overall, global economic growth is forecast to gain momentum in 2023 due to easing inflation pressures in food and energy sectors. APAC nations will drive nearly 70% of the global growth; however, its Western peers will encounter significant economic deceleration.<\/p>\n

Against this backdrop, GlobalData revised lower its 2023 global economic growth projection to 2.1% in June from 1.97% in March. Moreover, the global inflation rate is estimated to drop to 5.3% in 2023 from 8.7% in 2022, but it is projected to remain above the target set by major economies\u2019 central banks. Inflation rates will ease across all regions, primarily falling from 19% in 2022 to 16% in 2023 in the Middle East and Africa region.<\/p>\n

\u201cDespite an optimistic outlook, persistent high core inflation, geopolitical tensions between the US and China, expected slowdown of the Chinese economy in H2 2023, and uncertainties from the conflict in Ukraine remain areas of concern,\u201d said Ramnivas Mundada, Director of Companies and Economic Research at GlobalData, Proactively managing these risks is essential to sustain the positive economic trajectory, he added.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. London-based data and analytics firm GlobalData has lowered its 2023 growth projection for the Middle East and Africa (MEA) region to 2.8% from its March 2023 estimate of 3.17%. The revision was driven by a fall in oil prices and lower crude production, as well as less developed African nations facing challenges […]<\/p>\n","protected":false},"author":84,"featured_media":33785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,245,365,241],"class_list":["post-33786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mauritius","tag-economic","tag-mauritius"],"yoast_head":"\nGlobalData lowers Middle East and Africa economic growth to 2.8% in 2023 - Mauritius<\/title>\n<meta name=\"description\" content=\"London-based data and analytics firm GlobalData has lowered its 2023 growth projection for the Middle East and Africa (M ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GlobalData lowers Middle East and Africa economic growth to 2.8% in 2023\" \/>\n<meta property=\"og:description\" content=\"London-based data and analytics firm GlobalData has lowered its 2023 growth projection for the Middle East and Africa (M ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-23T08:10:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-23T08:51:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1692767882.488279.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"GlobalData lowers Middle East and Africa economic growth to 2.8% in 2023\",\"datePublished\":\"2023-08-23T08:10:46+00:00\",\"dateModified\":\"2023-08-23T08:51:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\"},\"wordCount\":250,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/08\/sm_1692767882.488279.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Economic\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/globaldata-lowers-middle-east-and-africa-economic-growth-to-2-8-in-2023\",\"name\":\"GlobalData lowers Middle East and Africa economic growth to 2.8% in 2023 - 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