Follow the latest in economic news and developments about the Arab transition countries.
The World Bank outlook for the Middle East and North Africa (MENA) region is shrouded in uncertainty and subject to a variety of domestic risks linked to political instability and policy uncertainty. Growth in the developing countries of the region is projected to pick up gradually to 1.9 percent in 2014 and 3.6 percent and 3.5 percent in 2015 and 2016, respectively. [World Bank]
Hundreds of protesters gathered outside the Yemeni president’s house in the capital Sanaa on Wednesday to call for the fall of the government, angry at a city-wide power cut about to enter its third day and severe petrol shortages. [Reuters]
Egypt’s current account deficit narrowed to $232.7 million in the nine months ending in March from a deficit of $5.7 billion in the same period a year earlier. In the period from January to March, the third quarter of Egypt’s fiscal year, the current account recorded a surplus of $523.1 million dollars. [Reuters]
The US is working with Egypt in several issues, US State Department Deputy Spokeswoman Marie Harf said on Monday. US State Department’s Counselor Thomas Shannon and Senior Advisor to the Secretary David Throne, who led a US delegation in the inauguration of President Abdel Fattah el-Sisi, held talks with Egyptian officials on all issues, including on economic issues. [SIS]
Also of Interest:
Higher foreign currency reserves help Egypt keep emerging market tag | WSJ Blog
World Bank announced $96 million for rural roads in Morocco | Press Release
World Bank announced $26.2 million for water projects in Tunisia | Press Release
UK wishes to expand partnership with Tunisia | Al-Monitor
Yemen hosts more than million refugees, government | SABA
Arab economists work to alleviate regional unemployment | al-Shorfa