Arab Today, arab today arab spring benefits only in long term
Last Updated : GMT 03:52:17
Arab Today, arab today
Arab Today, arab today

Arab spring benefits only in long term

Arab Today, arab today

Arab Today, arab today Arab spring benefits only in long term

Abu Dhabi - Arabstoday

Political turbulence sweeping the Middle East and North Africa (Mena) will benefit the people only in the long term as the events have already weakened some economies, aggravated unemployment and hit their fiscal balances, the Arab League Secretary General has said. Nabil Al Arabi said unemployment and poverty were among the main factors which triggered the turmoil in some regional counties, adding that the deterioration in social services hastened such incidents. Speaking at a banking conference in Abu Dhabi, Al Arabi said nearly 40 per cent of the people in some Arab nations are under the poverty line while around 14.2 million citizens are unemployed in the region. “The repercussions of the revolution in some Arab countries could extend over the short and medium terms but will produce positive results in the long term,” he told the conference of the Union of Arab Banks (UAB). He noted that the International Monetary Fund has revised down its forecasts for the Arab GDP growth to four per cent in 2012 from 5.1 per cent in 2011. In another address, UAB chairman Adnan Yousuf agreed that regional turmoil, dubbed “the Arab Spring” has negatively affected countries hit by unrest and spilled over to other states in the Middle East. He said the conflict in Libya had left nearly 1.2 million people unemployed, most of whom are from Egypt and Tunisia. “The economic costs of the Arab countries which were hit by unrest were very high after they were deprived of revenue generated from oil exports, tourism, investment and other sectors…Egypt and Tunisia were the main victims as their stock market plunged by at least $37 billion,” he said. “All these repercussions have led to a weakening in those Arab economies, an expansion in their financial imbalances, mainly balance of payments and budgets…there should be urgent measures to face such consequences, considering that nearly 100 million Arabs live under the poverty line and more than 40 million are suffering from malnutrition because of lack of food.” Yousuf said many regional countries are also suffering from a drop in per capita income due to a population growth and GDP fall, adding that this has also led to a sharp rise in joblessness to more than 50 per cent in some members. In recent remarks, a prominent banker in the region warned that the economies of Arab nations hit by unrest would worsen in the short term, adding that this should prompt them to draw up a road map for reforms. While political changes were relatively rapid, economic policies will take time before any results can be felt by the people, said Henry Azzam is the Chairman of Deutsche Bank for the Middle East and North Africa. Writing in the London-based Saudi Arabic language daily \'Al Hayat\', Azzam urged Arab government to stop “giving bright promises which only serve to raise the ceiling of expectations by their people.” “Economic condition in these countries could deteriorate before they improve during the transitional stage…implementation of stated economic policies will take time and this should prompt governments to chalk out a road map and a clear framework to achieve the aspired results,” he said. Azzam, author of several books on Arab economies, said new Arab governments can tackle corruption, upgrade transparency, support small and medium enterprises, ensure better social protection, trim debt and reduce poverty in a relatively short period of time. “But implementation of economic policies announced during the transitional stage will take time before their full results began to be felt,” he said. “Managing the expectations of the public, particularly the youth, will help governments persuade them to be patient and accept sacrifices in the short term in order to reach a better economic and social situation in the future.”

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 arab spring benefits only in long term Arab Today, arab today arab spring benefits only in long term

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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