“The situation has changed, and now we have some divergence—a tale of two cities. You have the oil-exporting countries who keep enjoying strong tailwinds. The price of oil is still high. The reforms they introduced over the last five years are paying off, and the way that they managed the Covid crisis and their ability to recover fast has strengthened their capacity to generate growth. On the other hand, middle-income and emerging economies are facing headwinds.” 

Jihad Azour, Director, Middle East and Central Asia Department, International Monetary Fund. The Middle East’s Economic Outlook [CSIS – Babel]