The Arab Monetary Fund expects a 3% growth in the economy of the Arab countries by 2019

Abdulrahman bin Abdullah Al-Humaidi, director of the Arab Monetary Fund, said the fund expects 2.3 percent and 3 percent growth in Arab economies by 2018 and 2019, respectively.

Al-Humaidi said at the fourth session of the Forum on Public Finance in the Arab States, held Saturday in Dubai at the World Summit of Governments, that the Arab economies would benefit from rising global demand for oil, among the main trading partners of the Asian Group.

Al-Humaidi said at the forum organized to discuss the prospects for monetary and monetary policies in the Arab region with the participation of more than 30 Arab finance ministers, central bank governors, Arab monetary institutions and international institutions, that some Asian partners would reach the highest growth rates in the world, ranging from 6.5 to 7.5 In 2018 and 2019, increase in the demand rate of Arab oil.

The Arab Monetary Fund (AMF) has explained that Arab economies have improved their performance in 2018, taking advantage of rising global oil demand and rising oil prices.

He highlighted the beginning of the positive effects of the economic reform programs implemented in a number of Arab countries.

Al-Humaidi said reducing the high unemployment rate by raising economic growth to 5-6% was one of the current challenges of growing Arab economies.

The youth unemployment rate is increasing in the Arab countries and represents about 30% of the youth unemployment rate in the world, registering 30% against 13.23% worldwide in 2018.

He underscored the need to achieve fiscal discipline and pursue reforms in the coming years, providing financial resources to support economic growth, create more jobs and reduce poverty levels and reduce poverty. unemployment.

"The reforms initiated by the Arab countries in 2015 helped reduce the combined general budget deficit of Arab countries to 6% for 2017 and 2018," he said.