| | JUNE 20224 Akin to all other parts of the world, uncertainty reigns in the Arabian Peninsula with the unpredictable course of the war in Ukraine and the scientific uncertainty about the evolutionary path of the COVID-19 virus. Despite a favorable milieu and optimism prevailing amidst the business leaders in the Middle East, the chances look better only for a partial economic recovery this year. However, with businesses slowly coming out of their panic mode, there is increasing optimism among consumers, despite 62 percent of households in the whole region experiencing a contraction in their income. It's also relatively safe to say that the catalyst to the recovery will be new entrepreneurs and entrepreneurial vision. According to the World Bank's forecasts, the economies in the Middle East and North Africa (MENA) region are expected to grow by 5.2 percent this year, the fastest rate since 2016, on the back of oil-price windfalls benefitting the region's oil exporters. The war and the virus could still influence this trend. It's getting increasingly clear that the complete recovery would take time in the region, just like the rest of the world. The private sector has enormous responsibilities on its shoulders. Smart operational strategies would reduce the leaders' pressure, not to mention the significant need to leverage IT in the process. While the government continues to render support, the private sector in the Middle East must keep its focus on the dynamic technology world and bring home the right technologies to propel the growth factor.Let us know your opinion.Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comMiddle East is Looking for its U-shaped RecoveryVol 03 · Issue 12 · June 2022 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan EditorialKeerthana Kantharaj Sthitaprajnya PanigrahiTanuja Akkannavar Deepawali DuttaAveek Pal Chaudhuri Ananth V Lakshmi G Group Art DirectorAshok KumarNoida Rohit Raghubanshi advertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comTo subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comCover price is Rs.150 per issue.Editor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technolo-gies India Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Design Suanya Chakraborty VP - Sales & Marketing Amrit SinghCirculation Manager Magendran PerumalEditorial
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