EconSource: EBRD Cuts 2014 Economic Forecasts for Tunisia to 2.9 Percent

Follow the latest in economic news and developments about the Arab transition countries. 

The European Bank for Reconstruction and Development (EBRD) cut its 2014 economic forecasts for the Southern and Eastern Mediterranean Region (SEMED).  Tunisia GDP is now seen rising 2.9 percent, against a previous forecast of 3.4 percent. [TAP, Kapitalis (French)]

Egypt must strip back bureaucracy to attract investment in its planned second Suez canal and bring in new laws making it easier for companies to get licenses and land, a legal firm linked to the project said. Hani Sarie-Eldin, head of Sarie-Eldin & Partners, part of a consortium advising the government on the Suez Canal project, said that “if we want this project to work, and attract investors, we need to escape bureaucracy and make the licensing process easier”. [Reuters]

Trade between Yemen and Arab states rose to about YER 1.5 trillion ($6.9 billion) last year, an increase of almost YER 583 billion ($2.7 billion) from 2012, according to Yemen’s Central Bureau of Statistics. The UAE and Saudi Arabia top the list of Arab countries that trade with Yemen. [Al-Shorfa]

Prime Minister Abdullah Ensour on Thursday welcomed the IMF mission chief Kristina Kostial and the accompanying delegation to Jordan, in the presence of the Minister of Finance Umayya Toukan. The two sides discussed the fifth and sixth review conducted by the IMF mission to Jordan’s National Economic Reform Program. [JNA]

Also of Interest:
Egypt awards oil and gas exploration blocks | Reuters
Morocco to boost higher education | Magharebia
Tunis: young leaders boost the job market | L’Economiste Magharebin (French)