World Bank: Arab countries recorded the worst performance in the world of the income distribution index

Economy

01:02 12.03.2019(Updated 01:45 12.03.2019) Copy link

Mahmoud Mohieldin, Senior Vice President of the World Bank Group, said Monday that the World Bank's worst-performing country on the income distribution index

"The richest 10% of the Arab world represents 60% of national income, against 45% in Europe for example," reported the official Kuwaiti news agency (KUNA).

In the same context, Mohieldin pointed out that the cost of destruction and lost growth opportunities in the Arab countries, which experienced wars between 2010 and 2018, amounted to $ 900 billion.

A senior World Bank official said the record of the destruction and missed growth opportunities was "very conservative and minimal".

Mohieldin said the World Bank group predicted that oil prices would reach $ 69 to $ 74 a barrel in 2019-2020 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.