Follow the latest in economic news and developments about the Arab transition countries.
Inger Andersen, Vice-President of the World Bank for the Middle East and North Africa, confirmed on September 9, 2014, the economic reforms initiated in the wake of the 2011 revolution were beginning to produce results for Tunisia She has confirmed that the Group of the World Bank would provide more support than $1 billion dollars per year in 2015 and 2016, according to the results of the program, having provided financial support to Tunisia amounting to $1.2 billion this year. [L’Economiste Maghrabin (French), TAP]
Egypt has signed a $500 million loan with the World Bank to provide natural gas to Egyptian households. The loan will help fund a Petroleum Ministry plan to connect 850,000 Egyptians, particularly in largely rural Upper Egypt, to a natural gas grid, according to Minister of International Cooperation. [Reuters]
President Barack Obama has authorized military aid of up to $25 million for Iraq. The money is to be used for military education and training to provide immediate military assistance to the Government of Iraq – including the Kurdistan Regional Government. It is being used to help them in their fight against Islamic State. [White House]
The Senate’s Financial and Economic Committee discussed various aspects of the ten-year economic plan during its session on Wednesday. Senate Speaker Abdel Ra’ouf Rawabdeh said the goal is to achieve a 4.5 percent growth rate and bring the debt down to 60 percent of GDP from the current level of 85 percent. [JNA]
Also of Interest:
Egypt’s public debt worth $238 billion | World Bulletin
Egyptian official: Poverty main cause of overpopulation | Al-Monitor
Bilateral agreements restrict Egypt more than multilateral ones: UNCTAD’s economist | DNE
Libya oil production to rise to 1 million bpd in October –PM | AFP
Central Bank of Libya governor holds meeting in Tripoli | Libya Monitor (subscription)
Morocco reaffirms support for Yemen to overcome current crisis | MAP
Op-ed: Tunisia is Ready for its economic revolution | World Bank
EIB invests over $1.3 billion in Tunisia post-uprising | CF
Yemen oov’t, Houthis reach agreement to end crisis | Reuters