By: Ramy Sameeh
Abu Dhabi-Mubasher: The Arab Monetary Fund (AMF) estimates that Arab economies will grow by 3% in 2016, said AMF’s Director-General and Chairman Abdulrahman Bin Abdullah Al-Hamidi.
On the sidelines of the finance deputy ministers’ conference held in Abu Dhabi, he added that the countries' current pace of growth is still below the level that will help them to make a progress in reducing unemployment and poverty.
Al-Hamidi went on to say that the Arab region needs to raise its growth rate by 5-6% to be able to cut unemployment rate.
Arab economies face challenges on the back of regional and international economic developments, especially lower oil prices.
Translated by: Julian Nabil
