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Article: Report: Arab Countries Achieve Tangible Economic

Article from:
Xinhua News Agency
Article date:
February 12, 1997
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The gross domestic product (GDP) of Arab countries rose by 5.89 percent from 499.3 billion U.S. dollars in 1994 to 528.7 billion dollars in 1995, thanks to booming oil prices and economic restructuring.

An economic report by the Egyptian MENA news agency ascribed the Arab economic growth to an increase in oil prices on world markets and the good results from the economic reform programs of some Arab countries.

Egypt, which is bent on the economic reform program carried out over the past 15 years, has realized a growth rate of about 6 percent. Successful efforts made by oil exporting countries to diversify their production base and reduce their dependence on the oil sector also contributed to ...

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