Arab economies start to recover?

The International Monetary Fund has spotted the first signs of good news for the Arab states after the poor economic performance in the wake of the uprisings that shook the region in 2011. The IMF forecasts that Tunisia, Egypt, Jordan, Morocco and Yemen – which it calls “transition countries” – will experience a slight increase in the gross domestic product by 2.9 percent in 2014, against 2.8 percent last year. More positively, it expects a growth of 4.3 percent next year, due to the development of trade and investment.

“After three years, we are beginning to see positive signs and some stabilization, but we need to move from growth to job creation,” said Masood Ahmed, Director of Middle East and Central Asia at the IMF. “Stabilization without employment growth will not be sustainable,” he has said.

Trade with Europe was strengthened while food prices down, contributing to the recovery in countries in transition, according to the latest IMF Regional Economic Outlook.

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