Middle Corridor investment could deepen regions global integration - IMF

Potential investments in the Middle Corridor offer countries in the region the prospect of deeper integration into the global economy, the Director of the Middle East and Central Asia Department at the International Monetary Fund, Jihad Azour said.

"Potential investments in the Middle Corridor and opportunities to expand trade with China, Europe, and even the Middle East open up prospects for the countries of the region to integrate more deeply into the global economy," Azour said.

He added that countries are already investing in the infrastructure needed to realize these opportunities.

“However, this process may take time. In addition to infrastructure investments, it will be necessary to improve the institutional environment, expand the role of the private sector, reform state-owned enterprises, and reduce the scope of the state’s presence in the economy,” Azour said.

He stated that these countries have reaped certain benefits thanks to the redirection of investment and migration flows, increased investment, and the reorientation of trade routes.

“As a result, in recent years, economic growth rates in these countries have been higher than in most other countries in the region. Although, according to our forecasts, growth rates will gradually converge in 2026–2027, at the same time we are observing certain differences in the economic dynamics of individual countries," Azour said.