Follow the latest in economic news and developments about the Arab transition countries.
Egypt has rolled out a series of reforms to its decades-old bread subsidy system in the hopes that it will reduce the nation’s bread consumption and minimize corruption. The new smart-card system, which entitles card owners to a fixed ration of five loaves of bread per day, was first introduced in the spring in cities in the Suez Canal and Alexandria and arrived this month in several Cairo districts. [Ahram]
Jordanian transport and freight sector officials say exports to Iraq have declined dramatically in recent weeks due to ISIL violence in Iraq, incurring heavy losses for the sector and the kingdom’s economy. The events in Iraq has led to losses of about $120 million a month for Jordan’s free zones and about 80 percent of goods produced in free zone factories are destined for Iraq, but this has now stopped. [Al-Shorfa]
Most young Jordanians are uninterested in technical vocational education and training (TVET) and are unaware of what TVET centers have to offer, according to a report released Monday. The “Labour Market: The Case of Vocational Training in Jordan” report prepared by the UNDP and funded by the Japanese government, said a tiny minority of less than 3 percent of Jordanian youths had formal vocational training and less than 10 percent had some form of vocational training. [Jordan Times]
Yemen’s ambassador to the United Kingdom Abdullah al-Radhi and United Kingdom Minister of State for International Development Alan Duncan has reviewed the ongoing arrangements to hold the Friends of Yemen meeting in New York. Al-Radhi and Duncan touched on sides of cooperation relations between the two friendly countries and ways to boost their economic and development relations as well. [SABA]
Also of Interest:
Sisi appropriates 10 percent of ‘special funds’ annual revenues to 2014/15 budget | Ahram
Egypt’s cash-strapped government looks to IPOs | AmCham
Egypt to cooperate with World Bank to increase economic competitiveness | DNE
Egypt’s central bank seen keeping key interest rates on hold- poll | Reuters
Blog: Egypt likely to lead Mideast private equity rebound | WSJ
Training programs offer hope to Jordan’s unemployed youth | CNN
Morocco’s trade deficit down by 5.8 percent in 2nd quarter of 2014 | MWN
US Ambassador discusses employment prospects in Morocco | MWN