The report, titled "Predictions, Perceptions and Economic Reality - Challenges of Seven Middle East and North Africa Countries Described in 14 Charts (http://www.worldbank.org/en/region/mena/publication/mena-quarterly-economic-brief-july-2014)," finds that the situation has gotten worse after the 2011 uprisings. Despite recent signs of economic improvement in
"While the problem of high unemployment is especially pernicious in these countries, an even greater problem is that of those working in the informal sector, "says
These seven countries have the potential to move to a higher growth path but the sustainability of growth depends heavily on governments' choice of economic policies. "There is a risk of policy error if, by trusting economic forecasts that paint a positive outlook for their economies, policymakers resist needed reforms," says
Prompt actions are needed to promote economic activities that deliver sustainable well-being for all citizens. These actions include structural reforms - targeting of subsidies, strengthening the investment climate, improving governance, and removing rigidities in product and labor markets - that are well integrated with economic policies. These reforms are necessary whether the short-term economic prospects are rosy or gloomy. Without them, the private sector will struggle to become a growth driver and create jobs.
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Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
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