Follow the latest in economic news and developments about the Arab transition countries,
Youth unemployment is spurring the spread of violent extremism across the region, a special meeting of the World Economic Forum heard yesterday. The MENA region needs to create more than 100 million new jobs by 2020, according to World Bank estimates. But a focus on finding elusive political solutions rather than grasping economic opportunities across conflict zones is hindering progress. [The National]
The number of individuals chronically undernourished in MENA more than doubled in 2012-14, reaching 12.6 million, or six percent of the population compared to 2008-2010, according to the latest report on the State of Food Insecurity in the World released by the Food and Agriculture Organisation of the United Nations (FAO). [Ahram Online]
A new departure tax of TND 30 ($17) for foreign nationals is due to be imposed by Tunisian authorities from October 1, with tens of thousands of Libyans to be affected by the move. Libyans contitute the single-largest nationality of foreign visitors to Tunisia, with an estimates 425,000 Libyan nationals passing through the Tunisian borders during the first three months of 2014. [Libya Monitor (subscription)]
Egypt aims to pay back $2-$3 billion it owes to oil and gas companies by the end of the year, Oil Minister Sherif Ismail told a news conference in Cairo, as the government tries to spur new investment to boost supplies. Debt owed to energy companies in Egypt totaled $5.9 billion in May, the latest official figure available. [Reuters]
Also of Interest:
Egypt rebounds, profit-taking shifts to Kuwait | Reuters
Federation of Egyptian Banks involved in high-level meetings with IMF delegation | Al-Mal
Egypt, WB discuss environment cooperation | SIS
Egypt’s feed-in tariff: A small step in the right direction | Mada Masr
Egypt’s govt to allure $8 billion Investments in electricity sector | Amwal Al-Ghad
Labor disputes continue at Libya’s Wahat oil fields | Libya Monitor (subscription)
Tunisian trade balance deficit reaches 6.6 percet of GDP | Kapitalis (French)
Yemen’s WFP: Interview | Yemen Times
Gulf Arab economic growth to quicken in 2015 despite cheaper oil | Reuters
Silatech focuses microfinance attention on youth enterprise | Zawya DJ