Follow the latest in economic news and developments about the Arab transition countries.
An IMF delegation held meetings in Jordan on Tuesday with the financial and economic committees at the Jordanian parliament. Head of the IMF Middle East Mission Christina Kostyal said that Jordan needed a growth rate of no less than 7 percent annually to help fight poverty and unemployment. She added the country could achieve that growth rate by improving its business infrastructure, especially through reforms to investment and income tax laws currently being discussed by Jordanian lawmakers. [Asharq Al-Awsat, JNA]
Arab countries will provide Egypt with aid in the form of petroleum products until at least September, Finance Minister Hany Kadry Dimian said today. “Arab aid for petroleum products offered to Egypt will continue until next September or October,” Dimian said in a text message. [Reuters]
The Tunisian General Labor Union (UGTT) and the government agreed on revising the Guaranteed Minimum Inter-professional Wage (SMIG). Prime Minister Jomaa had approved in principle the rise in SMIG, and Nidhal Ouerfelli, government spokesman confirmed, adding that negotiations will be held with all sides to determine the amount. [TAP, Huffington Post (French)]
Caretaker President Moncef Marzouki stressed the need to “reach consensus on economic and social issues in order to establish a new economic model likely to boost investment, promote integrated development and reduce consumption.” [TAP]
Also of Interest:
Egypt: EU, World Bank provide €70 million, $200 million for development project | DNE
Jordan, Saudi sign $2 billion oil reserves deal | ANSAMed
Consensus principle and regional development budget approved by Congress | Libya Herald
IMF delegation meets with UTICA representatives | LM (French)
Tunisia’s informal street vendor economy said to be source of terrorist funding | IBT