\n
<\/p>\n
However, the Survey of Economic and Social Developments in the Arab Region<\/em>, published by the UN Economic and Social Commission for Western Asia (ESCWA) projects post-COVID-19 economic recovery efforts to prompt a very slight decrease next year \u2013 to 11.7 per cent.<\/p>\n Meanwhile, poverty measured against national lines also surged, affecting 130 million people in Arab countries, revealed the Survey.<\/em><\/p>\n Excluding Libya and Gulf Cooperation Council countries, more than one-third of the region\u2019s population is affected.<\/p>\n Moreover, poverty levels are expected to rise over the next two years, reaching 36 per cent of the population in 2024.<\/p>\n Notwithstanding disruptions triggered by the COVID-19 pandemic\u00a0and war in Ukraine, the Survey<\/em> showed an expected 3.4 per cent growth next year throughout the Arab region.<\/p>\n While inflation rates jumped this year to 14 per cent, they are predicted to drop to eight and 4.5 per cent, respectively, in the next two years.<\/p>\n Yet, despite the region\u2019s positive growth outlook, Ahmed Moummi, lead author of the Survey<\/em>, pointed to significant discrepancies among countries \u2013 which were exacerbated by the war in Ukraine.<\/p>\n Noting that repercussions were not the same for all Arab States, he maintained that Gulf Cooperation Council countries and other oil-exporting ones will continue to benefit from higher energy prices.<\/p>\n At the same time, oil-importing nations will suffer from several socioeconomic challenges, including rising energy costs, food supply shortages, and drops in both tourism and international aid inflows.<\/p>\n \u201cThe current situation presents an opportunity for oil-exporting Arab countries to diversify their economies away from the energy sector by accumulating reserves and investing in projects that generate inclusive growth and sustainable development\u201d, Mr. Moummi underscored.<\/p>\n Through its annual Survey, ESCWA provides an analysis of the latest social and economic trends in the region to help member States in developing and implementing evidence-based policies, and improving economic planning processes for sustainable and inclusive development.<\/p>\n<\/div>\nMounting poverty<\/strong><\/h2>\n
Good news in growth<\/strong><\/h2>\n
Noteworthy discrepancies<\/strong><\/h2>\n