Tension in Arab states over joblessness

Tension in Arab states over joblessness

Agency News

Unemployment and sluggish economic growth are fuelling social tension and popular protests in several Arab countries, the International Monetary Fund said on Monday.

The unrest is in turn contributing to slower growth in the Middle East and North Africa (MENA) region, alongside global trade tensions, oil price volatility and a disorderly Brexit process, the IMF said in a report on the regional economic outlook.

Earlier,it lowered the 2019 forecast for the region—taking in the Arab nations and Iran—to a meagre 0.1 per cent from 1.1 per cent last year.

The IMF slashed its outlook for the region’s three largest economies—Saudi Arabia, Iran and the United Arab Emirates.

The risks around forecast of earlier this month 'are skewed to the downside and are highly dependent on global factors,' the IMF said in its report.