World Bank Warns of Repercussions of Rising Prices in Middle East Region

The World Bank (WB) has warned of the long-term repercussions of high inflation rates, particularly food prices, on the citizens of the Middle East and North Africa region.

The WB said, “It is time to take action to address the repercussions of food insecurity before it gets out of control in the coming years.

The WB said in a recent report, the ban on its publication will be lifted today, Thursday: “The rise in food prices causes irreparable damage,” expecting that one out of every five people living in the Middle East and North Africa will suffer from food insecurity during the current year. .

In its report, titled When Destinies Change: The Long-Term Effects of High Prices and Food Insecurity in the Middle East and North Africa, the WB expected that GDP growth for the region would slow to 3 percent in 2023, compared to 5.8 percent in 2022, as a result of the repercussions of “inflation.” Food prices of more than 10 percent, (which increases) pressure on the poorest families.