Follow the latest in economic news and developments about the Arab transition countries.
The volume of the current energy deficit in Egypt was expected to occur in 2022, said Anhar Hegazy, head of the energy efficiency department in the state-owned Information and Decision Support Centre (IDSC). According to Hegazy, the deficit in energy began in 2007 and by 2022 energy usage is expected to be reduced by 10 percent. [DNE]
Egypt’s army is taking charge of billions of dollars of development aid from the United Arab Emirates (UAE), an army official said, raising further doubts over the narrow separation of powers with the military backed administration in place since July. Alongside money to build clinics, schools and housing units, UAE offered to fund a project in Egypt’s strategic wheat sector. [Reuters]
The Jordanian economy is regaining momentum on improved macroeconomic conditions and a recovery in construction activity, tourism, and lower energy costs, ‘Jordan Economic Insight 2014’ published by the QNB Group has said yesterday. According to the report, the real GDP growth is projected to accelerate to 3.6 percent in 2014 and average 4.4 percent during 2015-16, driven by private sector led growth. [The Peninsula]
IFC, a member of the World Bank Group, is helping the Central Bank of Yemen (CBY) reform its credit reporting framework. IFC will help CBY establish and operate a new public credit registry–a platform to collate the credit information of borrowers–and will also support CBY in developing a legal and regulatory framework for credit reporting. [IFC]
Also of Interest:
Report: Jordan’s education system adjusts to meet new challenges | OBG
Jordan, UK discuss regional issues | JNA
ENP Country Progress Report 2013 – Jordan | Europa EU
ENP Package: European Commission memo on Libya | Europa EU
Moroccan unions to hold march for workers’ rights | Asharq Al-Awsat
Tunisia: Inflation decelerates modestly in February | L’Economiste Maghrebin (French)
KAFED grants Yemen $21 million for electricity distribution development in Aden | KUNA
Yemen: Tourism on the rise despite security degradation | Yemen Post