Follow the latest in economic news and developments about the Arab transition countries.
Gallup’s global Economic Confidence Index stood at +11 in 2013, similar to the +12 measured in 2012. However, stable confidence at the global level masks dramatic declines in the Middle East and North Africa (MENA) region, where the index fell 16 points to -33. Four countries, including Syria and Egypt, saw double-digit losses; Egypt’s index fell 40 points prior to President Mohamed Morsi’s ouster in July. [Gallup]
Around 27.8 percent of Egyptian youth are poor while 24.1 percent are near the poverty line, the latest report issued by the Central Agency of Public Mobilization and Statistics (CAPMAS) reveals. The 18 and 29 year-old age group, represents 23.7 percent (approximately 20 million) of the total population. The statistics agency added that unemployment rate among the youth is 29 percent. [DNE]
Yemeni economists said the recently approved oil subsidy reform was not enough to address financial problems faced in Yemen mainly due to repeated attacks on crude pipelines, delayed donor aid, and absence of visitors to develop the non-oil sector. [Yemen Post]
Also of Interest:
Egypt cabinet seeks guarantees from Saudi Arabia, UAE for its global bonds | Al-Mal
Egypt expects to receive a new Gulf aid package in October | Al-Mal (Arabic)
Public works project addresses empowers local communities in Yemen | World Bank
EIA short-term energy outlook | EIA