Econsource: Egypt economic growth to remain slow, says IMF

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

Growth in Egypt’s economy is expected to remain sluggish this year as political uncertainty keeps tourists and foreign investors away, according to the IMF. The economy was forecast to grow by 2.7 percent this year after expanding by 2.1 percent in 2013, the IMF said in its World Economic Outlook. [AFP]
Construction of Egypt’s largest oil refinery, with capacity to produce half the volume of diesel currently being imported, is expected to begin next week, the project leader said. The Egyptian Refinery Company (ERC) plant will use fuel oil produced by an old refinery nearby as feedstock to produce 2.3 million tons of diesel per year. [Reuters]
Tunisia offered infrastructure and development projects worth $1.26 billion to various Arab funds during an Arab ministers’ summit in Tunis on Tuesday, according to Noureddine Zekri, secretary for international cooperation. The package includes an investment of TND 660 million to build a 600-megawatt gas-fired power plant in Mornaguia and TND 758 million in infrastructure and roads across the country. [Reuters]
Prime Minister Mohammed Salem Basindwa issued a statement on Monday in which he categorically refuted Yemen central government would announce an end to petroleum subsidies in a bid to shore up liquidities. [Yemen Post]
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Jordan’s private sector responds to economic reforms | GAN
Libyan Investment Authority presents its 2013 annual report to Audit Bureau | Libya Herald
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WB president announces $1.2 billion for Tunisia in 2014 | WB
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AFESD grants Tunisia new funding | TAP
Program launched to train Tunisian youth in ICT | Gulf Times
KFAED grants Yemen $1.06 million | KUNA
WEO: MENA—Turning the Corner? | IMF, Blog, Survey
Blog: Broken relationship– Arab states, social policies and the middle class | EconMonitor