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The cost of destruction and lost growth opportunities in Arab countries that experienced wars between 2010 and 2018 reached $ 900 billion, said World Bank Group Senior Vice President Mahmoud Mohieldin.
A senior official at the World Bank, the number of destruction costs and lost growth opportunities "very conservative and minimal".
Following the outbreak of the Arab Spring revolutions in Yemen, Syria and Libya in 2011, these countries witnessed armed conflicts that greatly affected their economies and infrastructure, as well as destruction caused by the organization. of the terrorist "Da" ash "in countries such as Syria and Iraq. .
Regarding reconstruction and displaced people in Arab countries, he said Monday that the World Bank had recently convened to confirm the recommendations in this regard, the most important of which is that the improvement of both are related to the cessation of conflicts, conflicts and wars and their causes before talking about reconstruction or displaced persons.
Mohieldin said Monday that Arab countries had recorded the worst performance in the world in terms of income distribution index.
"The richest 10% of the Arab world represents 60% of the national income, against 45% in Europe for example," reported the official KUNA news agency.
He pointed out that the data recorded a significant decline in the income distribution index in the Arab countries and were at the tail end of the world countries lagging behind those of Latin America and the United States. ;Africa.
He reviewed critical indicators of Arab countries that are also increasing their debts and the weight of these debts on the public budget, noting that the World Bank has an integrated program to help countries in debt management. public.
Mohieldin added that the indicators also show the problem faced by GCC countries in terms of diversification of revenue sources, as they are still highly dependent on oil and are affected by price fluctuations.
He pointed out that some of these countries are paying particular attention to the information technology, industry and logistics sectors in the composition of the youth population of the countries of this region.
He pointed out that most of the Arab countries that have implemented tax and subsidy reforms have made gains in the state budget deficit index, with the budget deficit in the Arab countries being fell from 6.3% to 4.5% in three years according to the latest World Bank estimates at the end of 2018.
Mohieldin said the World Bank group predicted oil prices would reach $ 69 to $ 74 per barrel in 2019-20, respectively.
Mohieldin is currently visiting Kuwait as part of the annual follow-up and review with countries on the agenda of the UN's sustainable development agenda for the next 17 years.
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