International Business Times | Oil Prices 2016: How Are Oil Prices Affecting The Economy In The Middle East? IMF Revises Growth Forecasts For Saudi ... International Business Times The International Monetary Fund (IMF) highlighted Saudi Arabia's economic turmoil, due in large part to a drop in oil prices over the past two years, when it cut its 2016 growth forecast for the country on Wednesday. Middle East's Economic Prospects Being Hurt By Oil Prices, Austerity And War Spending cuts a must in Gulf despite oil recovery: IMF |