EconSource: Middle East Youth Jobs Crisis ‘Lures Recruits to Extremism’

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