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Article: World Bank: Middle East and North Africa region experiencing economic boom
- Article from:
- Al Bawaba
- Article date:
- April 18, 2005
CopyrightCopyright 2005 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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The Middle East and North Africa (MENA) region is experiencing an
economic boom driven largely by increasing oil revenues, but this
growth remains insufficient for addressing the region's development
challenge of creating jobs, according to a World Bank report released
Sunday.
The first in a series of annual reports that monitor major
economic developments in the region, Middle East and North Africa
Economic Developments and Prospects 2005 says that close to 100
million new jobs will be needed over the next 20 years to absorb new
entrants into the labor force and today's unemployed workers.
Over the last two years, economic growth averaged 5.6 percent in
MENA, up from the 3.6 percent ...