06.10.2011 08.Tischrei. 5772
Report says that reforms could spur region’s economies to expand 6% annually, labor force participation must be increased.
The Middle East and North Africa (MENA) could enjoy a period of rapid economic growth if the countries of the region seize on the Arab Spring upheavals to undertake political and economic reforms, a report by London-based Capital Economics says.
The Arab world could grow at an average annual rate of 6 percent a year, beating the 4% annual pace they posed over the previous 20 years, Said Hirsh, MENA economist at Capital Economics. That pace of growth would lift gross domestic product per capita to $26,000 annually by the year 2030, nearly five times its current level, he said….