Page 12 - Policy Economic Report - October 2024
P. 12
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 7: Real GDP growth, 2024
Source- IMF: Abbreviation - World Economic Outlook (WEO)
However, an escalation in regional conflicts, especially in the Middle East, could pose serious risks for
commodity markets. Shifts toward undesirable trade and industrial policies can significantly lower output
relative to baseline forecast of IMF. Monetary policy could remain too tight for too long, and global
financial conditions could tighten abruptly.
Figure 8: Downside risks to world GDP, deviation from baseline
Source- IMF Page | 11
October 2024
