In this interview with BBC News Arabic, Dr Carole Nakhle, CEO of Crystol Energy, comments on the World Bank fears of stagflation.
Key messages from the discussion:
- Stagflation is a combination of economic stagnation/slowing economic growth, and inflation. This causes problems for various economies around the world but poor countries are the most impacted.
- Food and energy prices were already on the rise before the Russian invasion of Ukraine; the war has made a bad situation worse.
- The outlook for economic growth in the MENA region is divergent. Net oil importers are suffering from higher import bills due to the rise of energy and food prices. In contrast, net oil exporters are enjoying a better economic outlook due to higher oil revenues.
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Related Comments
“Global oil markets and OPEC+ plans“, Dr Carole Nakhle, Jun 2022
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