WEF introduces scenarios on MENA economic growth
The World Economic Forum has released a report on Middle East scenarios on economic growth and job creation in the Arab World.
The report provides potential scenarios for addressing the current uncertainty in the realms of politics, regional resource management and job market regulations.
The report suggests that conditions in the MENA region are becoming analogous to that in Europe which grapples with demographic challenges. Middle Eastern countries look at South Saharan countries as new intra-south opportunities of mutual growth and vital integration.
It further suggests that depleting resources will give a strong economic boost to the Middle East as countries in this region give priority to economic growth through the sustainable management of resources which will lead to forging the gap in terms of food, water and energy needs.
The report stressed green alternatives as a scenario by which governments in the region can create new opportunities for more political and economic integration, as well as, implementing renewable energy projects creating the possibility of a new Middle East either as an alternative energy hub or a focus of long term development and economic growth.
Finally, it shed light on the disparity in terms of GDP per capita among countries in the region and focuses on the weak trade volumes between the countries of the region. (Source: www.yallafinance.com)