Follow the latest in economic news and developments about the Arab transition countries.
ESCWA: The Libyan conflict and its impact on Egypt and Tunisia
A new report by the Economic and Social Commission for Western Asia (ESCWA), found that the flow of Libyan refugees, returning Egyptian migrants, and security turmoil from Egypt’s western neighbor could hurt the Egyptian economy and could have a negative impact on Tunisia’s trade, the energy sector and tourism and jeopardize Tunisia’s chances of reviving its economy by 2015. [DNE, TAP]
A new report by the Economic and Social Commission for Western Asia (ESCWA), found that the flow of Libyan refugees, returning Egyptian migrants, and security turmoil from Egypt’s western neighbor could hurt the Egyptian economy and could have a negative impact on Tunisia’s trade, the energy sector and tourism and jeopardize Tunisia’s chances of reviving its economy by 2015. [DNE, TAP]
Minister of Investment Ashraf Salman disclosed that the government will announce a new investment stimulus package on two phases worth EGP 64 billion in accordance with Egypt’s new budget. The essential plan of the Suez Canal Axis will be finished within the course of six months as a prelude to be submitted to the Cabinet, said the Minister. [MENA]
Minister of Planning and International Cooperation Mohammad al-Sa’adi has confirmed that the fuel subsidy cuts is a 100-percent Yemeni decision serving the interest of the Yemeni ordinary citizen and the national economy. He announced that the government will provide a package of programs and projects of the national action plan for youth employment 2016 prepared by the ministry of planning and submitted it to the cabinet. [SABA]
Jordan’s public debt reached over JOD 20 billion by the end of June, according to recent official data. Although public debt went up by JOD 995 million or 5.2 percent compared to that recorded by the end of last year, its ratio to GDP went down to 78.5 percent estimated for 2014 from 80.1 percent in 2013. [Jordan Times]
Also of Interest:
Egypt trade deficit down in May | Ahram
Eighty percent of Egypt’s natural gas production goes to power plants | DNE
Egypt to pay back $500 million to Qatar in October | Egypt Independent
Op-ed: Egyptians tolerating cuts in subsidies—For now | Yemen Times
PM briefs Congressional aides delegation on Jordan’s reform process | JNA
Despite some progress, Libyan oil remains plagued by uncertainty | Forbes
Qatar, Morocco in deal for $170 million in projects | Gulf Times
Entry into force of departure tax deferred to October 2014 | TAP
Yemen, Russia agree to boost economic cooperation | SABA