The Director General of the International Monetary Fund, Kristalina Georgieva, said on Sunday that she is confident about the economic outlook, despite the uncertainty caused by the war and the geopolitical context, as the global economy has maintained its flexibility, Reuters reported, citing Agerpres.

In a speech at the World Government Summit in Dubai, Georgieva announced that the IMF would release a paper on Monday showing that eliminating explicit energy subsidies could save the Middle East $336 billion, equivalent to the economies of Iraq and Libya. combined

The official explained that, in addition to the savings achieved, eliminating subsidies “will prevent environmental pollution and help improve social spending,” according to a copy of the speech posted on the IMF’s website.

In its latest regional economic outlook update, published last month, the IMF cut its growth forecast for the Middle East and North Africa to 2.9% this year.

“While uncertainty remains high, we can be a little more confident about the economic outlook as the global economy has proved surprisingly resilient,” the IMF chief said.

Speaking about the conflict in the Middle East, Georgieva warned about the widening of the consequences.

“This exceptional moment of uncertainty amplifies the difficulties faced by economies still recovering from earlier shocks. And the escalation of the conflict will increase the economic losses,” the Director General of the International Monetary Fund warned.

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