IMF says Egypt second largest Arab economy in 2020, worth $361.8 bln

Egypt is the second largest economy in the Arab region in 2020 with a total amount of $361.8 billion, following Saudi Arabia, according to the International Monetary Fund (IMF).

In a report, the IMF said that the Egyptian economy has outperformed several economies in the Arab region despite the severe impacts of the COVID-19 pandemic.

It added that Egypt’s economy has surpassed oil economies in the region, including the UAE, Iraq, and Qatar.

The report added that the total size of economies monitored by the IMF in 19 countries registered $2.4 trillion, topped by the Saudi economy with the size of its economy totaling $701.5 billion.

The UAE’s economy came third, with its economy valued at $354.3 billion, followed by the Iraqi, Qatari, and Algerian economies, with the size of their economies recording $172.1 billion, $146.1 billion, and $144.3 billion respectively.