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FINANCIAL NEWS
Arab world must create 22,000 jobs a day until 2020: IMF
07 Jan 2013
(MENAFN) A recent study conducted by the International Monetary Fund (IMF), estimated the Arab world would need 22,000 new jobs per day until 2020, Saudi Gazette reported.
The IMF study, however, found that the jobless rate among Arabs under 25 years old, who represent 60 percent of the MENA population, is 26 percent, much higher than in most parts of the world.
On the subject, Masoud Ahmed, the International Monetary Fund (IMF) director for the MENA region and Central Asia said that in Egypt, only 200,000 jobs were created in 2011, against 750,000 youngsters entering the job market.
Ahmed added that although Egypt’s tourism sector, which is one of the most important job creators in the country, saw a pickup in tourist arrivals, current levels were still below the pre-revolution year 2010, and this is not enough to create sufficient employment opportunities.
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