The region needs to diversify from oil dependence, says report © Mustafa Hassona/Anadolu Agency via Getty Images
The region needs to diversify from oil dependence, says report © Mustafa Hassona/Anadolu Agency via Getty Images

Time for MENA economic model 'to be renewed'

8 December 2020

MENA economies have been weakened by the coronavirus pandemic but can sow new seeds of growth by focusing on technological innovation and economic diversification, according to a report.

Atradius’s MENA economic report said the oil-dependent economies of the region had also been buffeted by geopolitical challenges and were due to see a regional slowdown with -7% growth in 2020.

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