EconSource: Jobless Arab Youth to Hit 50 Million by 2020
The number of unemployed youth in the Arab world is expected to reach 50 million by 2020, heightening concern about further unrest in the region, with disgruntled youth seen as increasingly vulnerable to recruitment by militant groups. According to a recent report, subdued economic growth of only 2.6 percent in the region pushed the number of unemployed youth to 22 million by the end of 2013. Projected economic growth in the Middle East and North Africa, forecast to be around 3.8 percent  in 2015, will not be sufficient to reduce high unemployment rates due to difficult political transitions, intensifying regional conflicts, and weaker crude oil prices.

[Zawya, 1/26/2015]

Libya producing 363,000 bpd of oil  

Libya, still struggling to reopen ports and oilfields hit by fighting, is producing 363,000 barrels of oil per day (bpd) and exporting around 200,000, the oil minister appointed by forces in control of the capital Tripoli said. The NOC has declined to give production updates in recent months, but previous comments from al-Zwai suggest output has been at the 350,000 bpd level for most of January, around half of what the country was producing in November, and is well below the maximum capacity of about 1.6 million bpd. [Libya Monitor, Reuters, 1/26/2015]

Egypt cancels Iraq’s debts in exchange for oil shares

Reports revealed that the Egyptian and Iraqi governments have reached an agreement on the Iraqi debt to be canceled in exchange for shares of oil. A number of political, military and economic agreements had been reached during a visit by Iraqi Prime Minister ending the ongoing dispute between Cairo and Baghdad and expand areas of cooperation. Iraq’s debt has caused great tension between the Egyptian and Iraqi governments after the Central Bank of Iraq refused to pay $1.7 billion  to Egypt. [Zawya, 1/26/2015]

Authorities seek to ‘Jordanize’ labour sector

According to government officials, the Jordanian labor ministry is preparing an action plan to “Jordanize” some sectors by replacing guest workers with Jordanians. Healthcare, industrial, and wholesale sectors are among the targeted areas in the ministry’s plan to raise the percentage of the Jordanian workforce. Agreements with several associations in key private sectors setting the ratio of Jordanians to guest workers have been signed and preparations are under way to launch recruitment campaigns across Jordan prioritizing women and youth in remote areas. [The Jordan Times, 1/24/2015]

Also of Interest:
Egyptian pound weakens to new low of 7.43 per dollar | Ahram Online
Egypt plans oil production development to boost economy | MEMO
Real economic dynamics in Algeria, says German FM | AllAfrica
Morocco, distinguished model in arab region, Benkirane says in Davos | MAP
Jordanian cabinet approves investing in building petroleum gas tanks | Zawya