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World Bank: all countries in the region except for Egypt, Morocco, Iran is witnessing a slowdown in growth rates
10/13/15
Agencies - the World Bank said that almost all countries in the region except for Egypt, Morocco, Iran is witnessing a slowdown in growth rates, for various reasons, pointing out that the Gulf Cooperation Council (GCC) and Algeria suffered from lower oil prices, and rising public finance spending levels.
He said the World Bank - said in a statement yesterday that it expected to post the GCC as a whole economies - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE Altdh- growth rate of 3.2% in 2015, the next year, down from 3.9% in the previous year, where Lower oil prices hurt severely by, and for the same reason, it is expected that the growth rate in Algeria remains in the range of 2.8% in 2015.
The statement said that "the oil-exporting developing countries" group received a double blow as a result of lower oil prices and the civil war, as Syria and Libya have seen falling to its oil production by about 40% or more, as a result of physical damage to the sector and a slowdown in production (estimates in Yemen are not available).
He pointed out that sabotage oil fields may lead to the survival of GDP for these countries is low growth rates, and overall, could reach the growth of the oil-exporting developing countries the rate of 1.3% in 2015, up from 0.9% a year ago, while largely due to the possibility of a slight recovery in Libya and Iraq.
He explained that the Middle East and North Africa region require large investments, and the lack of foreign capital has exacerbated the situation, pointing out that Egypt needs an additional investment of 30-35 billion dollars to compensate for the lack of foreign capital and $ 10 billion of other funds to develop its infrastructure in the past the next, while additional Jordan needs to be more than $ 6 billion of new investments a year to put its economy on a recovery path, and expected to increase investments in Tunisia by 7 percentage points of GDP over the next five years.
The statement pointed out that Iran needs after the sanctions are lifted them to the hundreds of billions of dollars to develop its oil fields and re-oil production to levels before the sanctions, pointing out that economic growth in the Middle East and No
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