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FINANCIAL NEWS
IMF expects late recovery for Arab Spring countries
26 May 2013
(MENAFN) Arab Spring countries are going through social worries that might postpone an early economic recovery, according to the International Monetary Fund (IMF), reported Arabian Business.
These worries came due to two years of political turmoil, which resulted in more fiscal pressures.
Oil importers including Morocco, Tunisia, Egypt and Jordan encountered several shocks such as rising energy and food import bills, the effects of global financial crises along with rising popular resentment.
Growth levels that are estimated to average around 3 percent in the current year for oil importing countries were not enough to absorb additional employment.
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