SR: Has the unfolding of the Dubai World debt problem in the UAE hampered broader growth prospects for the region?
|
|
- Stella Barker
- 5 years ago
- Views:
Transcription
1 Interview with Dr Georges Corm Al Jazeera Centre for Studies Tel: Fax: April 2010
2 Dr. Georges Corm is a globally distinguished economist and historian. A scholar par excellence, he served as the Minister of Finance for Lebanon from December 1998 to October During his tenure, unprecedented landmark reforms in public finances in Lebanon were achieved. To the amazement of many international observers, the Ministry of Finance, under his direction, was also able to settle huge arrears, due by the state to numerous private companies. Dr. Georges Corm He is widely regarded as the cerebral force behind the modernization of the taxing system in Lebanon. As finance minister, he successfully introduced value added tax (VAT) and the global income tax system into Lebanese economics. Dr. Corm has spearheaded numerous World Bank studies and projects and serves as an eminent consultant to the United Nations Development Programme (UNDP), Food and Agriculture Organisation (FAO), Agence Francaise de Development-DATAR France, the French Ministry of Foreign Affairs, the European Union, European Commission, UN Department of Economic and Social Affairs, Organization of Economic Development and Cooperation, and numerous central and private banks of the Middle East. In the following interview, Dr Georges Corm discusses with Singapore-based researcher and analyst, Sourav Roy*, the overall impact of the global financial meltdown on Middle Eastern and North African economies. Sourav Roy: What has been the overall impact of the global financial crisis for the developing economies of the Middle East and North Africa (MENA) region? How has the recovery been thus far? Georges Corm: The impact of the crisis has been rather limited in the MENA countries, as this region of the world is less globalised than Europe and the U.S., areas that have been most affected by the financial crisis, a phenomenon that originated in the U.S. and extended to Europe. Overall, in any case, the impact of the crisis on emerging economies has been limited even in economies like China where exports to the old industrialised world has been a major engine of economic growth in the last twenty years. Although Gulf oil exporting countries have been affected, the crisis has mostly affected the exuberant real estate sector in Dubai and some of the banks of the region (Kuwait and UAE). But, in general, growth rates have not been negative and most countries have maintained a good level. Stock exchanges were affected even before the crisis because there were many speculators pushing up prices artificially in some of these exchanges. Now, however, financial and banking expansion is back in most countries and, in some countries, profits are quite high again in this sector. SR: Has the unfolding of the Dubai World debt problem in the UAE hampered broader growth prospects for the region? GC: No, the growth engine in the GCC region is oil exports. Receipts from the oil sector are still quite high for the demographic size of the member countries economies. 2
3 3 SR: The Middle East is the largest exporter of oil and the largest importer of food. Has the global financial meltdown worsened the food-fuel crisis of ? GC: Well, we have suffered from a big rise in the price of food imports and building materials. Now, although prices have declined in international markets, they remain high in the MENA region. That is a negative factor, as the prices of houses have increased tremendously, except in Dubai, where they have substantially declined. The cost of living has increased as well. Large strata of the population in the region, which are not in the higher revenue brackets, are suffering. Affordable housing for the large majority of people in the Arab region remains a big problem. SR: How have countries in the Maghreb, such as Morocco and Tunisia, which are large importers of both food and fuel, been affected? GC: The Maghreb countries, which are generally dependent on migrant remittances from Europe, have suffered a small decline in the flow of the remittances. Tunisian and Moroccan exports to Europe have also been affected, but other factors have counterbalanced this negative impact. Factors such as a continuous flow of oil and gas receipts in Algeria and Tunisia, good agricultural crops and a good flow of Arab Tourists, mainly from Libya and Europe, have acted as counters. A lot of Europeans travel to the region since tourist packages to the Maghreb countries are much cheaper than other international destinations. SR: Why does one see oil-producing nations maintaining high oil prices despite much reduced output? GC: This is natural. Arab management of the oil rent has always been geared towards maximising its return. As for current oil prices, the flow of oil receipts remains abundant compared to what it was a few years ago. Oil demand in the future, however, especially from China and India, will push prices up again. SR: There has been a steep decline in external demand, predominantly from the Euro area, for diversified economies such as Egypt, Jordan, Lebanon, Morocco and Tunisia. On top of that, the inflow of Foreign Direct Investment (FDI) into these countries from the Gulf Cooperation Council (GCC) nations has decreased. What is the overall impact of this situation and how difficult does recovery become in these circumstances? GC: GCC investments in other parts of the Arab world have been largely concentrated on the luxury segment of the real estate sector and on the banking sector. The decline in remittances will not dramatically affect the growth rates of these recipient countries. GCC nationals investments in the real estate sector has already picked up in Lebanon and probably Syria, where the prices of apartments are continuing to skyrocket. SR: Iraq is witnessing a major short-term financing gap due to the global slowdown, with a fiscal deficit of 26 percent of GDP accrued in 2009 and a current account that moved from a substantial surplus of 13.3 percent of its GDP to a major deficit of 31 percent in What do you think will be the road ahead for Iraq? GC: Well, 2009 was the year of preparation for Iraq s 2010 elections, so the government increased spending in many sectors. The important factor for better macro-economic
4 performance in Iraq is political stability and improvement in the security situation. This is in addition to caring actively for a large number of poor people in the country who suffered terribly since 1979 when the war with Iran was declared. This was followed by the Kuwait invasion, the first Gulf War and the global economic embargo that, on the whole, affected the poorer strata of the population. SR: Will the recovery of the MENA region predominantly depend on the revival in global oil demand or could other factors such as domestic consumption play an important role? GC: Unfortunately, since the 1970s, the increases in the price of oil have been the main growth engine for both the Mashreq and the Maghreb countries. Non-oil-exporting countries have become dependent on the export of manpower to the Arabian oil exporting countries and on the investment inflow of GCC nationals in the sectors of tourism, real estate and banking. Therefore, when business is booming in Arabian oil-exporting countries due to high oil prices, other Arab economies have a better growth rate. SR: How do constant political tensions in the region restrain international capital flows that might have otherwise contributed to the deepening of the capital markets? GC: This is only partially true. Look at Lebanon, Syria and Jordan, which are the most exposed to their respective regional tensions. Their growth is not really affected by political instability or the fear of a new war with Israel. Instead, what counts in these regions is the sharp variations in the price of oil or the agricultural sector s performance. Especially in Syria, Morocco and Tunisia, agricultural performance is dependent on the quantity of rainfall. SR: Do you see Iran as a regional economic power influencing Middle Eastern and North African economies? GC: Iran is definitely an important economy, even by its size, for the region and especially for Syria and the GCC countries. There is certainly a potential for more trade and investment with this country, provided that political tensions between Iran and some Arab governments cool down. There is also huge potential for an increase in trade and commerce with Turkey. However, the extremely limited capacity within the Arabian countries to diversify export capacities to sophisticated goods, equipment or services that are in high demand in the international markets namely electronic products, superior quality food products or research and development capacity. These could be significant to multinational companies; so the fact that Arabian countries are limited in these areas is a constraining factor for a better, more dynamic economic growth. We are an important consumer market for the outside world, but we have no products manufactured in our own countries that we can export to other markets, except oil and chemicals. 4 SR: What do you think would be the short- and long-term prospects for the MENA region? GC: I do not see any prospect for decreasing regional political tensions or a change in the Israeli crazy policies vis à vis the Palestinian people. The U.S. policy towards the region has only marginally changed up to now. On the economic front, the very high concentration of local and inter-arab investments in trade, real estate, tourism and finance limits economic growth, as the Middle East lacks the capacity to create innovative technologies that are developed locally. Success regarding the latter would see the dependence of the growth of the
5 oil industry or remittance flows lessen. But this is another story, which requires a change in the economic psychology of Arab investors and the qualitative changes in human resources education and training, in addition to resources devoted by the private sector companies to research and development. *Sourav Roy is a Singapore based analyst and researcher of geopolitical and strategic affairs 5
The Impact of Decline in Oil Prices on the Middle Eastern Countries
The Impact of Decline in Oil Prices on the Middle Eastern Countries Dr. Shah Mehrabi Professor of Economics Montgomery College Senior Economic Consultant and Member of the Supreme Council of the Central
More informationWinners and Losers in the Middle East Economy Paul Rivlin
Editors: Paul Rivlin and Yitzhak Gal Assistant Editors: Teresa Harings and Gal Buyanover Vol. 2, No. 4 May 2012 Winners and Losers in the Middle East Economy Paul Rivlin The Middle East economy has been
More informationJordan in the GCC. Our Initial Thoughts. Economic Research Jordan. Initial Opinion. The Invitation. The Gulf Cooperation Council: A Brief History
Economic Research Jordan Initial Opinion 6 September 211 Jordan in the GCC Our Initial Thoughts The Invitation The Gulf Cooperation Council s (GCC) announcement during the Heads of State summit held last
More informationGlobal Economic Prospects. Managing the Next Wave of Globalization
Global Economic Prospects Managing the Next Wave of Globalization 2007 REGIONAL ECONOMIC PROSPECTS Middle East and North Africa regional prospects 5 Recent developments Thanks to oil revenues surging in
More informationOn the Surge of Inequality in the Mediterranean Region. Chahir Zaki Cairo University and Economic Research Forum
On the Surge of Inequality in the Mediterranean Region Chahir Zaki chahir.zaki@feps.edu.eg Cairo University and Economic Research Forum A tale of three regions Resource poor countries Djibouti, Egypt,
More informationINTERNATIONAL MIGRATION AND DEVELOPMENT IN THE ARAB STATES
Distr. LIMITED E/ESCWA/SDD/2007/Brochure.1 5 February 2007 ENGLISH ORIGINAL: ARABIC ECONOMIC AND SOCIAL COMMISSION FOR WESTERN ASIA (ESCWA) INTERNATIONAL MIGRATION AND DEVELOPMENT IN THE ARAB STATES United
More informationGCC An Overview on Economic Trends Dr. Nasser Saidi Chief Economist, DIFC Authority
GCC An Overview on Economic Trends Dr. Nasser Saidi Chief Economist, DIFC Authority 6 th Annual Conference on Trade Treasury and Cash Management in the Middle East Dubai, 12 March 2008 Sub-Prime Blues
More informationRecent developments. Note: This section is prepared by Lei Sandy Ye. Research assistance is provided by Julia Roseman. 1
Growth in the Middle East and North Africa (MENA) region is projected to pick up to 3 percent in 2018 from 1.6 percent in 2017 as oil exporters ease fiscal adjustments amid firming oil prices. The region
More informationThe financial and economic crisis: impact and response in the Arab States
The financial and economic crisis: impact and response in the Arab States Tariq A. Haq Research Economist Employment Analysis and Research Unit Economic and Labour Market Analysis Department October 2010
More informationMigrant Transfers in the MENA Region: A Two Way Street in Which Traffic is Changing
Migrant Transfers in the MENA Region: A Two Way Street in Which Traffic is Changing GEORGE NAUFAL * and CARLOS VARGAS-SILVA ** Abstract: While remittances from GCC countries to Asia slowed down during
More informationMIDDLE EAST NORTH AFRICA
MIDDLE EAST NORTH AFRICA MIDDLE EAST AND NORTH AFRICA Stretching from Morocco s Atlantic shores to Iran and Yemen s beaches on the Arabian Sea, the Middle East and North Africa (MENA) region remains central
More informationPress Release Political unrest in the Arab world shakes up regional economy UN report
Press Release Political unrest in the Arab world shakes up regional economy UN report Economies of countries experiencing unrest sapped, but higher oil prices helped exporters; expansion is declining region-wide
More informationTHE BARCELONA PARTNER COUNTRIES AND THEIR RELATIONS WITH THE EURO AREA
THE BARCELONA PARTNER COUNTRIES AND THEIR RELATIONS WITH THE EURO AREA On 15 January 24 the Eurosystem held its first high-level seminar with the central banks of the 12 partner countries of the Barcelona
More informationRegional Consultation on International Migration in the Arab Region
Distr. LIMITED RC/Migration/2017/Brief.1 4 September 2017 Advance copy Regional Consultation on International Migration in the Arab Region In preparation for the Global Compact for Safe, Orderly and Regular
More informationCircumstances and Prospects for Economic Cooperation Between Israel and its Neighbors
Circumstances and Prospects for Economic Cooperation Between Israel and its Neighbors Presented by: David Boas Netanyah College, June 29th, 2004 Presentation Structure Selected data Principal economic
More informationMiddle East & North Africa Facebook Demographics
Middle East & North Africa Facebook Demographics May 2010 Published 24 May 2010 By Carrington Malin, Spot On Public Relations carringtonm@spotonpr.com @carringtonmalin @spotonpr Copyright Spot On Public
More informationA presentation by Dr. Jayant Dasgupta Former Ambassador of India to the WTO UNECWA Workshop October, Beirut
A presentation by Dr. Jayant Dasgupta Former Ambassador of India to the WTO UNECWA Workshop 18-19 October, Beirut Outline Different kinds of Trade Agreements Status of RTA commitments made by members of
More informationMIDDLE EAST and NORTH AFRICA
MIDDLE EAST and NORTH AFRICA After an easing in tensions in early 214, the Middle East and North Africa region is again experiencing major and increasing security challenges. In addition, since mid-214,
More informationCircular migration as an employment strategy for MENA countries
Circular migration as an employment strategy for MENA countries Alessandra Venturini University of Torino CARIM, RSCAS, Florence 3 FIW workshop Federal Ministry of Economics and Labour November 15, 2007
More informationIMBALANCE FACTORS IN THE ARAB WORLD: CONFLICTS AND NATURAL WEALTH DEVALUATION
IMBALANCE FACTORS IN THE ARAB WORLD: CONFLICTS AND NATURAL WEALTH DEVALUATION RALUCA IOANA OPREA PH. D. STUDENT, LUCIAN BLAGA UNIVERSITY OF SIBIU, ROMANIA, e-mail: raluca.neagu@ulbsibiu.ro / ralucaioana.oprea@gmail.com
More informationRights and Permissions Attribution Translations Adaptations Third-party content
1 International Bank for Reconstruction and Development / The World Bank 11 H Street NW, Washington DC 33 Telephone: -73-1; Internet: www.worldbank.org Some rights reserved 1 3 17 1 15 1 This work is a
More informationThe views expressed in this report do not reflect those of the World Bank or its Board.
The views expressed in this report do not reflect those of the World Bank or its Board. Labor Migration in the Middle East and North Africa A View from the Region Georges Corm ABBREVIATIONS AND ACRONYMS
More informationMiddle East and Central Asia Regional Economic Outlook. Learning To Live With Cheaper Oil Amid Weaker Demand. January 2015 Update
1/22/215 Middle East and Central Asia Regional Economic Outlook Learning To Live With Cheaper Oil Amid Weaker Demand January 215 Update Outline Recent Global Developments and Implications for the Region
More informationMigration in the Long Term: The Outlook for the Next Generations
4 Migration in the Long Term: The Outlook for the Next Generations Can migration help mitigate demographic gaps, population aging, and global labor market imbalances? The first half of this century will
More informationThe Arab Spring: What Consequences on Foreign Investment?
The Arab Spring: What Consequences on Foreign Investment? Emmanuel Noutary Managing Director ANIMA Investment Network, Marseille Zoé Luçon Project Manager, Mediterranean Investment and Partnership Observatory
More informationTrade and the Barcelona process. Memo - Brussels, 23 March 2006
Trade and the Barcelona process. Memo - Brussels, 23 March 2006 Trade Ministers from the EU and the Mediterranean countries will meet on Friday 24 March 2006 in Marrakech, Morocco, for the 5th Euro-Med
More informationWest Asia Regional Economic Outlook UN DESA Expert Group Meeting. October 2015 Jose A. Pedrosa-Garcia ESCWA
West Asia Regional Economic Outlook 2015 UN DESA Expert Group Meeting United Nations Economic and Social Commission for Western Asia October 2015 Jose A. Pedrosa-Garcia ESCWA The views expressed in this
More informationTHE INNOVATION LANDSCAPE IN THE ARAB COUNTRIES
THE INNOVATION LANDSCAPE IN THE ARAB COUNTRIES Economic And Social Commission For Western Asia Nibal Idlebi Chief of Innovation Section Capacity Building Workshop on Innovation Policies for SDGs in the
More informationThe Political Economy of Governance in the Euro-Mediterranean Partnership
The Political Economy of Governance in the Euro-Mediterranean Partnership Deliverable No. 10 Working Package 8 New Challenges: Regional Integration Working Package Summary: Working Package 8 New Challenges:
More informationCSIS Center for Strategic and International Studies 1800 K Street N.W. Washington, DC (202)
CSIS Center for Strategic and International Studies 18 K Street N.W. Washington, DC 6 (22) 775-327 Acordesman@aol.com The US and the Middle East: Energy Dependence and Demographics Anthony H. Cordesman
More informationEconomic Effects of the Syrian War and the Spread of the Islamic State on the Levant
Economic Effects of the Syrian War and the Spread of the Islamic State on the Levant Elena Ianchovichina and Maros Ivanic The World Bank Group 10th Defence and Security Economics Workshop Carleton University,
More informationLebanon. Lebanon: the largest per capita recipient of refugees in the world
October 2014 Fighting Hunger Worldwide Is the Syrian crisis jeopardizing the economy and food security in Lebanon? Special Focus Lebanon The crisis in Syria now already in its third year has had an immense
More informationeconomies in different ways. On average, however, the region has done well, with respectable
Overview During 2007 the Middle East and North Africa region1 (MENA) experienced average growth of 5.7 percent. This was the fifth year in a row in which the region grew at a rate higher than 5 percent,
More informationThe Financial Crisis and International Migration in the Arab Region: Challenges and Opportunities.
Eighth Coordination Meeting on International Migration, New York, 16-17 Nov. 2009. The Financial Crisis and International Migration in the Arab Region: Challenges and Opportunities. By: Batool Shakoori,
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationOVER THE HORIZON: A NEW LEVANT
OVER THE HORIZON: A NEW LEVANT EXECUTIVE SUMMARY Complementarities between Egypt, Turkey, Jordan, Lebanon, Iraq, Syria, and the Palestinian Territories are significant, pointing at substantial potential
More informationIntroduction ONE. Cambridge University Press Arab Economies in the Twenty-First Century Paul Rivlin Excerpt More information
ONE Introduction This book examines the relationship between demographic growth and economic development in Egypt, Iraq, Jordan, Morocco, the Palestinian Territories, Saudi Arabia, Syria, and Tunisia.
More informationDemocratic Transition and Development in the Arab World. (Stanford University, April, 2012).
Democratic Transition and Development in the Arab World (Stanford University, 26-27 April, 2012). Towards an Integrated Social Policy for Arab Youth George Kossaifi (Director, Dar al Tanmiyah, Beirut,
More informationA Sustained Period of Low Oil Prices? Back to the 1980s? Oil Price Collapse in 1986 It was preceded by a period of high oil prices. Resulted in global
Geopolitical Developments in the Middle East 10 Years in the Future Dr. Steven Wright Associate Professor Associate Dean Qatar University A Sustained Period of Low Oil Prices? Back to the 1980s? Oil Price
More informationLEBANON SECRETS FOR ECONOMIC SURVIVAL AND THE NEED FOR A NEW VISION FOR THE FUTURE RECONSTRUCTION POLICY
Published in Saudi Business Focus, London, September 2006 and the Daily Star, Beirut, September 14, 2006. LEBANON SECRETS FOR ECONOMIC SURVIVAL AND THE NEED FOR A NEW VISION FOR THE FUTURE RECONSTRUCTION
More informationDoing Business in Lebanon
Doing Business in Lebanon Country Facts Capital Beirut Area 10452 km2 Population 4,4 million Language Arabic (official), French, English. Currency Lebanese Pound LP GDP per capita USD 10,707 GDP Growth
More informationLessons from the Gulf s Twin Shocks
Lessons from the Gulf s Twin Shocks Ibrahim Saif Stanford April 26, 2012 Outlining the Twin Crisis The oil-rich economies of the Gulf Cooperation Council (GCC) are facing a twin challenge to their stability
More informationFinanced by the European Commission - MEDA Programme
European Commission EuropeAid Cooperation Office Financed by the European Commission - MEDA Programme Cooperation project on the social integration of immigrants, migration, and the movement of persons
More informationLEBANON IN THE GLOBAL CRISIS. By Mohammad Safadi
ACADÉMIE DIPLOMATIQUE INTERNATIONALE LEBANON IN THE GLOBAL CRISIS By Mohammad Safadi Minister of Economy and Trade Republic of Lebanon Paris, July 12, 2010 2 Lebanon in the Global Crisis Speech delivered
More informationRegional prospects: Western Asia Project LINK Meeting Yasuhisa Yamamoto October 20, 2016
Regional prospects: Western Asia Project LINK Meeting 2016 Yasuhisa Yamamoto October 20, 2016 Western Asia: Major influencing factors Continuing armed violence/conflicts in the region Low oil prices Fed
More informationSingle Windows and Arab Regional Integration
Single Windows and Arab Regional Integration Adel Alghaberi Régional Intégration Section Economic Development & Integration Division UN ESCWA SWC2016 Introduction The Arab region needs all kinds of at
More informationHungarian economic relations with the Arab world
Hungarian economic relations with the Arab world Tamás Szigetvári PhD, senior research fellow of the Institute for World Economics of the Hungarian Academy of Sciences and senior lecturer of the Budapest
More informationBulletin. SABA ip. In this Issue: KSA. Bahrain. Qatar. Yemen. Ethiopia. Middle East. GCC Trademark Law Published
July 2014 Issue 7 In this Issue: KSA GCC Trademark Law Published Bahrain New Requirements for Patent Applications Qatar Legalization Dropped, Certification Suffices Yemen Accession to the World Trade Organization
More informationWikiLeaks Document Release
WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RS22002 Qualifying Industrial Zones in Jordan and Egypt Mary Jane Bolle, Alfred Prados, and Jeremy Sharp, Foreign Affairs,
More informationThe Economic Roadmap to Peace in the Middle East
The Economic Roadmap to Peace in the Middle East US$ Billions 4.8 Palestinian Authority GDP 4.2 3.7 3.1 2.6 2.0 94 95 96 97 98 99 00 01 02 03 The Palestinian Authority Labor Market PA West Bank Gaza Employer
More informationFourth Global Meeting of Chairs and Secretariats of Regional Consultative Processes on Migration
League of Arab States General Secretariat Social Sector Migration &Arab Expatriates Dept. Fourth Global Meeting of Chairs and Secretariats of Regional Consultative Processes on Migration Lima, 22-23/5/2013
More informationMENA-U.S. Trade and Investment Report. Promoting Business between the U.S. and the MENA region
MENA-U.S. Trade and Investment Report Promoting Business between the U.S. and the MENA region April 2015 MENA-U.S. Trade and Investment Report Promoting Business between the U.S. and the MENA region 1.
More informationUNDP: Urgent job creation on a mass scale key to stability in the Arab region
Strictly embargoed until 14 March 2013, 12:00 PM EDT (New York), 4:00 PM GMT (London) UNDP: Urgent job creation on a mass scale key to stability in the Arab region Mexico City, 14 March 2013 Arab States
More informationThe Bayt.com Middle East Job Seeker Confidence Survey. September 2018
The Bayt.com Middle East Job Seeker Confidence Survey September 2018 Section 1 PROJECT BACKGROUND Objectives To gauge perceptions and attitudes of jobseekers regarding the economy of their countries. To
More informationPhilippe Fargues. Temporary Migration: Matching Demand in the EU with Supply from the MENA
European University Institute European Commission EuropeAid Cooperation Office Financed by the European Commission - MEDA Programme Cooperation project on the social integration of immigrants, migration,
More informationPeople and Job Mobility in the MENA Region
2 People and Job Mobility in the MENA Region Labor Migration Out of MENA Evolution of MENA Migration 1 The MENA Region has a long history of migration, related to the growth of Islam, trade, and tribal
More informationReports. A Balance of Power or a Balance of Threats in Turbulent Middle East?
Reports A Balance of Power or a Balance of Threats in Turbulent Middle East? *Ezzeddine Abdelmoula 13 June 2018 Al Jazeera Centre for Studies Tel: +974-40158384 jcforstudies@aljazeera.net http://studies.aljazeera.n
More informationLabor Migration in the Kyrgyz Republic and Its Social and Economic Consequences
Network of Asia-Pacific Schools and Institutes of Public Administration and Governance (NAPSIPAG) Annual Conference 200 Beijing, PRC, -7 December 200 Theme: The Role of Public Administration in Building
More informationUnparalleled Expansion
Reprinted with permission of Worldwide ERC, from the October 2007 issue of MOBILITY Dubai and Doha: Unparalleled Expansion B Y M A R C O D I L E N G E At the intersection where Europe, the Middle East,
More informationWhat s the problem with economic integration in the MED?
tepav The Economic Policy Research Foundation of Turkey What s the problem with economic integration in the MED? Güven Sak Washington DC, 11 June 2013 Connectivity in the Mediterranean Slide 2 Jenin Industrial
More informationRevolutions and Inequality in North Africa and the Middle East
AFRICAN DEVELOPMENT BANK GROUP CHIEF ECONOMIST COMPLEX Revolutions and Inequality in North Africa and the Middle East PROF. MTHULI NCUBE* CHIEF ECONOMIST & VICE PRESIDENT AFRICAN DEVELOPMENT BANK BP 323,
More informationDemographic Changes in the GCC Countries: Reflection and Future Projection
Models and Systems of Elderly Care Demographic Changes in the GCC Countries: Reflection and Future Projection Abdulrazak Abyad A. Abyad, MD, MPH, MBA, DBA, AGSF, AFCHSE CEO, Abyad Medical Center, Lebanon.
More informationEconomic Diversification in GCC Economies: A Heaven for Investors
International Journal of Economics and Finance; Vol. 8, No. 4; 2016 ISSN 1916-971X E-ISSN 1916-9728 Published by Canadian Center of Science and Education Economic Diversification in GCC Economies: A Heaven
More informationNASIR IQBAL & SAIMA NAWAZ. Pakistan Institute of Development Economics (PIDE) Pakistan
NASIR IQBAL & SAIMA NAWAZ Pakistan Institute of Development Economics (PIDE) Pakistan Financial crisis has adversely affected international labor demand and even caused lay offs 59 million workers have
More informationN O R T H A F R I C A A N D T H E E U : P A R T N E R S H I P F O R R E F O R M A N D G R O W T H
R E P O R T REGIONAL PROGRAM POLITICAL DIALOGUE SOUTH MEDITERRANEAN N O R T H A F R I C A A N D T H E E U : P A R T N E R S H I P F O R R E F O R M A N D G R O W T H Compilation of the findings and recommendations
More informationThe Bayt.com Ideal Workplace in the Middle East and North Africa Survey January 2018
The Bayt.com Ideal Workplace in the Middle East and North Africa Survey January Objectives To understand how the current environment is impacting the satisfaction levels of an employee/job seeker in the
More informationTHE DEMOGRAPHIC PROFILE OF THE ARAB COUNTRIES
Distr. LIMITED E/ESCWA/SDD/2013/Technical paper.14 24 December 2013 ORIGINAL: ENGLISH ECONOMIC AND SOCIAL COMMISSION FOR WESTERN ASIA (ESCWA) THE DEMOGRAPHIC PROFILE OF THE ARAB COUNTRIES New York, 2013
More informationRegional Economic Outlook
World Economic and Financial Surveys Regional Economic Outlook Middle East and Central Asia SEPT 06 I N T E R N A T I O N A L M O N E T A R Y F U N D 2006 International Monetary Fund The views expressed
More informationarabyouthsurvey.com #arabyouthsurvey April 21, 2015
arabyouthsurvey.com April 21, 2015 ABOUT THE SURVEY 3,500 face-to-face interviews conducted by Penn Schoen Berland (PSB) Arab youth in the age group of 18-24 years Country nationals only Sample split 50:50
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationThe Bayt.com Middle East and North Africa Salary Survey May 2013
The Bayt.com Middle East and North Africa Salary Survey 2013 May 2013 Objective The research was conducted to gauge employee satisfaction of their current salaries and factors affecting thereof. The key
More informationThe Arab Economies in a Changing World
The Arab Economies in a Changing World Marcus Noland (Peter G. Peterson Institute for International Economics) Howard Pack (The Wharton School, University of Pennsylvania) Recent accomplishments and long-term
More informationStatistical Appendix
Statistical Appendix The IMF s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq,
More informationImpact of Global Crisis on attainment of MDGs
Impact of Global Crisis on attainment of MDGs FFF in the Arab Context Adib Nehmeh ESCWA 8 December 2009 Conceptual HD versus (economic Growth) paradigms Critique of neoliberal economy and globalization
More informationArab Revolution its Causative Factors and Evolving Dynamics
Arab Revolution its Causative Factors and Evolving Dynamics Pakistan Institute of Development Economics Seminar Shamshad Akhtar March 2012 2 Key Messages Arab World: Diversity in characteristics and size
More information1.3. Rankings: imports, exports and overall trade volume Philippines trade with EU Member States Structure and trends by product
Front Cover Contents 1 Overview 2 1. Trade Relations 1.1. Trade in goods: main trends 1.2. Trade in services 1.3. Rankings: imports, exports and overall trade volume 1.4. Comparison of EU-Philippines
More informationThe Bayt.com Entrepreneurship in MENA Survey. Nov 2017
The Bayt.com Entrepreneurship in MENA Survey Nov 2017 Section 1 PROJECT BACKGROUND Objectives This research was conducted to gain insights into the current level of understanding and interest in entrepreneurship
More information2016 Arab Opinion Index: Executive Summary
2016 Arab Opinion Index: Executive Summary 1 The 2016 Arab Opinion Index: Executive Summary The Arab Center for Research and Policy Studies (ACRPS) in Doha, Qatar, published its annual Arab Opinion Index
More informationDO INTRA-ARAB LABOUR FLOWS PROMOTE REGIONAL ECONOMIC INTEGRATION?
International Journal of Development and Conflict 4(2014) 93 101 DO INTRA-ARAB LABOUR FLOWS PROMOTE REGIONAL ECONOMIC INTEGRATION? MOHAMED ELAFIF * Assistant Professor of Economics College of Business
More informationMonitoring social and geopolitical events with Big Data
Monitoring social and geopolitical events with Big Data Boston University Alumni Club of Spain Tomasa Rodrigo April 2018 Monitoring economic, social and geopolitical events with Big Data Index 01 Opportunities
More informationEmerging Markets: Russia & the CIS Responding to Rising Demand
Emerging Markets: Russia & the CIS Responding to Rising Demand Stuart Hensel Senior Analyst May 3rd 2007 Russia & the CIS: Interest Rising As seen by: FDI inflows & outflows Lending flows Growing CIS presence
More informationForeign Labor. Page 1. D. Foreign Labor
D. Foreign Labor The World Summit for Social Development devoted a separate section to deal with the issue of migrant labor, considering it a major development issue. In the contemporary world of the globalized
More informationVIETNAM FOCUS. The Next Growth Story In Asia?
The Next Growth Story In Asia? Vietnam s economic policy has dramatically transformed the nation since 9, spurring fast economic and social development. Consequently, Vietnam s economy took off booming
More informationUpdate on Regional Activities
UNWTO Commission for the Middle East Forty- third meeting Chengdu, People s Republic of China, 12 September, 2017 (09:30-12:00) CME/43/7 Rev.1 Madrid, August 2017 Original: English Update on Regional Activities
More informationInvestment and Business Environment in the Arab World
Investment and Business Environment in the Arab World Tarik H. Alami Director, a.i. Economic Development and Globalization Division United Nations Economic and Social Commission for Western Asia (UN-ESCWA)
More informationHigher Education, R&D, Economic Development, Regional and Global Interface
HED/POL/2007/PI/27 Higher Education, R&D, Economic Development, Regional and Global Interface B. Zahlan Presented at the Regional Seminar The Impact of Globalization on Higher Education and Research in
More informationThe Bayt.com Middle and North Africa Salary Survey May 2015
The Bayt.com Middle and North Africa Salary Survey 2015 May 2015 Objective The research was conducted to gauge employee satisfaction of their current salaries and factors affecting thereof. The key objectives
More informationMigration and Development Brief
Migration and Development Brief 9 Migration and Remittances Team Development Prospects Group, World Bank Revised Outlook for Remittance Flows 2009 2011: Remittances expected to fall by 5 to 8 percent in
More informationQatar diplomatic crisis what you need to know
Qatar diplomatic crisis what you need to know Doha is a huge investor in overseas markets, and has committed to spending 5bn in the UK in the run-up to Brexit. Photograph: Kamran Jebreili/AP Patrick Wintour
More informationU.S. EXPORTS TO MENA REGION A MIXED BAG IN
FOR IMMEDIATE RELEASE February 22, 2018 +1 (202) 289-5920 info@nusacc.org اضغط هنا للعربية U.S. EXPORTS TO MENA REGION A MIXED BAG IN 2017 Overall Exports Are Down, but Some Countries Show Strong Growth,
More informationEconomic and Social Council
United Nations E/2018/20 Economic and Social Council Distr.: General 20 April 2018 Original: English 2018 session 27 July 2017 26 July 2018 Agenda item 15 Regional cooperation Economic and social developments
More informationUNITED NATIONS. The Global Crisis and its Impact on Poverty in the ESCWA Region. By Mahmoud Abdel-Fadil
UNITED NATIONS ESCWA Distr. LIMITED E/ESCWA/SDD/2009/ December 2009 ORIGINAL: ENGLISH E Economic and Social Commission for Western Asia (ESCWA) Expert Group Meeting on the Global Financial & Economic Crisis:
More informationPolicy Frameworks to Accelerate Poverty Reduction Efforts
Policy Frameworks to Accelerate Poverty Reduction Efforts Khalid Abu Ismail Economic Development and Integration Division 1. Two competing narratives Pillars of conventional wisdom on Arab development
More informationEconomic Outlook and Macro Economic Policies
Economic Outlook and Macro Economic Policies Anusha Chari University of North Carolina at Chapel Hill & NBER IIEP Inaugural Conference on India s Economy Focus my discussion on India s manufacturing sector.
More information1. Egypt was expelled from the Arab League, which it had helped found, in It was readmitted in 1989.
1 Introduction One of President Barack Obama s key foreign policy challenges is to craft a constructive new US strategy toward the Middle East and North Africa (MENA). Given the political fissures in the
More informationThe Bayt.com Middle East Jobseeker Confidence Survey. August 2017
The Bayt.com Middle East Jobseeker Confidence Survey August 2017 Section 1 PROJECT BACKGROUND Objectives To gauge perceptions and attitudes of jobseekers regarding the economy of their countries. To identify
More informationTop Cities. of the Middle East & North Africa. July 2012
Top Cities of the Middle East & North Africa July 2012 Objective To understand the opinion of people living in the Middle East about the city they reside in. To assess the key cities in the Middle East
More informationTransport Corridors Connecting Africa, Asia and Europe through the Arab Region: Priority Corridors and Facilitation Mechanisms
Transport Corridors Connecting Africa, Asia and Europe through the Arab Region: Priority Corridors and Facilitation Mechanisms Nabil Safwat, Ph.D. ESCWA Special Advisor on Transport and Logistics Issues
More informationBayt.com Middle East Consumer Confidence Index. March 2013
Bayt.com Middle East Consumer Confidence Index March 2013 Section 1 PROJECT BACKGROUND Objective To understand perceptions and attitudes of Middle Eastern consumers regarding the economy of their countries,
More informationINTERNATIONAL MIGRATION IN THE ARAB REGION: TRENDS AND POLICIES*
UN/POP/EGM/2006/09/Rev 5 September 2006 UNITED NATIONS EXPERT GROUP MEETING ON INTERNATIONAL MIGRATION AND DEVELOPMENT IN THE ARAB REGION Population Division Department of Economic and Social Affairs United
More information