Arab countries need a collective will to change | GulfNews.com

Arab countries need a collective will to change | GulfNews.com:

"It is no secret the economies of Arab countries will continue to face major risks, in the short term, amidst continued regional political tensions and a slow global recovery, even among the new economic powers of the world like China. This is reflected in slow growth, high unemployment, especially among the youth, and difficult fiscal situations in many countries throughout the Middle East and North Africa.
Arab countries, particularly those in transition, face a difficult domestic and international environment, compelling them to maintain subsidies and increased wage and pension spending. This is despite the self-evident unsustainability and long-term harm to their economies such policies bring about.
Against this background, Arab countries must engage in serious and deep reforms that can set the foundation for future growth, job creation, correction of the deep distortions developed over decades of entitlement programmes, and a more competitive and merit-based environment for better private sector development."

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