EconSource: Yemen Government Curbs Travel, Recruitment in Austerity Drive

Follow the latest in economic news and developments about the Arab transition countries. 

Yemen’s president has ordered a raft of austerity steps, including a review of state-owned companies’ viability and curbs on foreign travel by government officials, to ease pressure on the impoverished state’s crumbling public finances. In a statement late on Wednesday, the government described President Abd-Rabbu Mansour Hadi’s belt-tightening package as urgent. [Reuters]
Egypt’s gross domestic debt reached 83 percent of the country’s GDP in March, according to the Central Bank of Egypt’s (CBE) June statistical bulletin. Public debt climbed to EGP 1.7 trillion at the end of last March, up from EGP 1.65 trillion in December 2013 and EGP 1.46 trillion in March 2013. [Ahram]
The Syrian crisis and the influx of refugees to Jordan have disrupted agriculture and food trade, leading to losses in exports to the neighboring country, according to a UNDP-ODI report, titled “Towards a resilience-based response to the Syrian refugee crisis”. The report said the crisis led to a 25 percent decrease in Jordan’s agricultural exports to Syria and a 30 percent decline in agricultural imports, thereby affecting farmers and traders. [Jordan Times]

Over 91 percent of Moroccan exports of fresh agro-food products go to the European market in the 2007-2013 period, according to Moroccan official statistics. The report titled performances and competitiveness of exports of flagship agro-food products stresses that there are many untapped opportunities for Morocco, mainly in the Middle East and African markets. [MAP]
Also of Interest:
Egypt’s consumer inflation stays steady in June | Reuters, CBE
Rise in Egyptian food prices due to subsidy cut: FAO | DNE
Egypt’s stocks continue rise as foreign investors increase buyouts | Ahram
‘Long Live Egypt Fund’ receives over EGP 400 million in donations | DNE
Head of Libya investment fund steps down over ‘Gaddafi law’ | Reuters
Tunisia determined to mobilize between TND 180-300 million in 2014 through Sukuk | TAP
Tunisia: The 2015-2020 five-year program under review | Leconomiste Maghrebin (French)