EconSource: Urgent Call for Youth Employment in Morocco

Follow the latest in economic news and developments about the Arab transitions. 

The creation of jobs for young people has been a major topic of debate in Morocco recently. Badr Charaf, a financial journalist, explained that according to the latest official figures, the unemployment rate is nudging 10 percent. “And a growth rate of around 2 percent will not enable Morocco to create jobs, because experts say growth of 6-7 percent is needed to create jobs, whereas average growth has been around 4.5 percent over the past decade,” he said. [Magharebia]


The return of capital markets activity has come as a relief to pared-down investment banking teams. The optimistic markets outlook comes even as revitalized Sunni jihadist groups have emerged out of the Syrian civil war to threaten the largest economies of the Arab world in the oil-rich Gulf. [FT]


Egypt will return a $500 million deposit from Qatar, made last year during the presidency of Mohamed Morsi, following a request from Doha, the governor of Egypt’s central bank said Wednesday. Hisham Ramez told Egyptian daily Al-Akhbar Tuesday that Qatar had not yet asked for the return of a $2.5 billion deposit which was due to be repaid in November. [Ahram Online]


The latest bi-annual economic forecast produced by the IMF forecast that Libya’s GDP will contract by 19.8 percent this year, in real terms, due to the sharp decline in oil output and exports. Libya’s GDP is heavily reliant on the energy sector, but the wider problems in the country have severely affected many other key areas too, including retailing, services, trade, and construction. [Libya Monitor]




Also of Interest:

Op-ed: America should support Egypt’s economic renaissance | The Hill

Morocco: Culture as engine for growth, employment, and development | Eurasia Review

Amidst regional upheaval Tunisia’s coast is a glimmer of hope | Tunis Times

Tunisia: The economic component of the electoral program of Ettakatol | Kapitalis (French)

Iraqi economy to shrink because of conflict: IMF | AFP

UN chief heading to Washington, Tunisia and Cairo | AP