Arab Today, arab today \few options\ post arab spring
Last Updated : GMT 21:34:08
Arab Today, arab today
Arab Today, arab today

\'Few options\' post Arab Spring

Arab Today, arab today

Arab Today, arab today \'Few options\' post Arab Spring

Dubai - Arabstoday

The slow political transition in the Arab Spring economies in the Middle East and North Africa (Mena) region could derail the economic stability of these countries, a senior International Monetary Fund (IMF) official said Wednesday. \"In the Arab Spring countries, political transition, pressing social demands and an adverse external environment have combined to increase the near-term risks to macro-economic stability. Events in 2011 have proved the transition is not going to be as easy as initially anticipated,\" said Masoud Ahmad, Director of the IMF\'s Middle East and Central Asia Department. With growth faltering, unemployment rising and continued fiscal and external pressures, the IMF expects 2012 to be an equally challenging year. In its latest regional economic outlook, the IMF observed that the Arab Spring countries are left with limited economic policy options as their foreign exchange and fiscal buffers have depleted severely as a result of actions they took last year to defend their currencies and to meet budgetary requirements. Fiscal woes With the recession in Europe adversely impacting tourism and export revenues of many Mena countries, the oil importers of the region are facing mounting fiscal woes caused by high oil prices. Mena oil importers had to manage higher commodity prices, lower global growth and negative spill-over from the euro area and from within the region. As a result, except in Morocco, per capita incomes stagnated or contracted in 2011, and more young people are without jobs today than a year ago, according to the IMF. Governments across the region responded to surging global commodity prices with higher spending including on wages and food and fuel subsidies. As a result, fiscal deficits increased to about 8 per cent of GDP on average and domestic government borrowing has begun to crowd out credit to the private sector. External positions have also weakened, with a drawdown of international reserves. This was most evident in Egypt, which led to the deterioration of credit ratings and other financial market indicators. In the face of rising social pressures, most governments of oil-importing countries increased spending on generalised subsidies, while partially offsetting this increase by cutting back in other areas including capital expenditure, resulting in lower job creation. Tax revenues fell as a result of tax breaks in some countries. As a result, fiscal balances deteriorated in these countries. Faced with worsening credit ratings and rising borrowing costs in international markets, governments increasingly relied on domestic financing. The authorities also typically maintained an accommodative monetary policy and limited exchange rate movements by tapping into international reserve buffers. Given the deteriorating economic conditions in many economies that are going through political transition, economists fear the prospect of widespread social unrest in these countries. \"The region faces the grave danger of social unrest because of the growing unemployment and frustrated expectations. Social and economic changes have not kept pace with the expectations of the masses,\" said Dr Nasser Saeedi, Chief Economist of the Dubai International Financial Centre.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today \few options\ post arab spring Arab Today, arab today \few options\ post arab spring

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday