Follow the latest in economic news and developments about the Arab transition countries.
The Head of the GNC Budget, Finance and Planning Committee Mohammed Abdullah revealed that the 2014 budget is estimated to reach LYD 68.59 billion with huge increases in salaries and subsidies allocation. According to a report from the Central Bank of Libya (CBL), actual expenditure for 2013 had reached LYD 67 billion. [Libya Herald]
Egypt’s annual inflation rate eased to 10.2 percent in February, down from January’s 12.2 percent, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported Monday. In an attempt to keep inflation rates stable, the CBE’s Monetary Policy Committee kept its overnight deposit rate, overnight lending rate and the rate of main operations unchanged, CBE announced earlier this month. [DNE]
The European Bank for Reconstruction and Development (EBRD) launched a project in Jordan to help small businesses improve performance and increase contribution to local economy. “Accounting for more than 90 percent of active enterprises and 70 percent of total employment, micro, small and medium-sized businesses are a fundamental part of the Jordanian economy,” said EBRD during a launching ceremony held in Amman. [ANSAMed]
Morocco is among the most attractive Arab countries for foreign investments, owing to its legislation and stability, said secretary general of the Gulf Cooperation Council’s trade arbitration center, Ahmed Najm. The GCC official noted that Morocco has conducted a series of legislative reforms and adopted incentives, particularly in the tourism sector. [MAP, MENAFN]
Also of Interest:
UAE reaffirms support to Egypt roadmap | WAM
Jeddah Chamber of Commerce to invest EGP 2.5 billon in Egypt | DNE
Egypt’s constitution allows taxing Egyptians abroad: Tax authority | Egypt Independent
US government sponsors employment fair in Luxor | USAID
Jordan sees fast recovery: QNB | The Peninsula
Tunisia: Jomaa calls for taking urgent measures to curb rising commodity prices | TAP
NPLs of Tunisian banks amount to TND 12.5 billion | TAP