According to released official data, Yemen’s annual inflation rate reached its one-year high of 10 percent in August, while central bank reserves fell further in September. The frequent bombings of oil pipelines have hurt oil revenues and the central bank’s gross foreign asset reserves fell to $5.1 billion in September. Crude oil exports, accounting together with liquefied natural gas for nearly 54 percent of government budget revenue, fell by 46.5 percent.
[Reuters, 11/17/2014]
Morocco’s trade deficit falls by 5.6 percent
Morocco’s trade deficit reached 159.69 billion dirhams at the end of October, 5.6 percent less than last years deficit. According to the foreign exchange regulator, this reflects the rise in exports by 8.2 percent since January 2014. Imports rose by 1 percent due to the doubling of wheat imports. [Reuters, 11/17/2014]
Egypt’s unemployment remains high at 13.1 percent in third quarter
Egypt’s unemployment rate shrank in the third quarter of 2014 by 0.2 percent, reaching 13.1 percent. Unemployment remains above the 8.9 percent registered in the same period preceding the 2011 uprising. According to official statistics there are 3.6 million unemployed Egyptians nationwide. At least three quarters hold diplomas or university degrees and persons between 15 and 29 of age comprise 64 percent of the unemployed. [Ahram Online, 11/16/2014]
Also of Interest:
European Union backs Moroccan reforms | AllAfrica
Yemen and World Bank discuss absorbing $30 million assigned to the Social Care Fund | SABA
Encouraging signs for Egypt’s economy | Zawya
World Bank expects Egypt’s GDP growth to reach 5 percent in four years | Egypt Independent
Lack of monetary flexibility hurts MENA’s financial markets | Zawya
Syria promises 90,000 state jobs next year | Zawya