The Arab countries face unprecedented challenges in the light of the dramatic changes now sweeping through the global economy. Previous attempts at creating economic cooperation between Arab states have been notably unsuccessful, but a new generation of leaders is emerging in the region, one that is familiar with the high-tech world, that embraces a global vision and can reasonably aspire to world-class standards of excellence. The challenges facing these leaders are immense. Nominal GDP of the Arab countries was $650bn in 2000, having grown at an average of 2.9% pa in the preceding decade lagging behind the other main blocks of developing countries. Henry Azzam now examines the options for each state and provides invaluable data on their individual economies, banking, stock and bond markets. He provides investors, policy-makers, analysts, bankers with comprehensive information on Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Oman, Egypt, Syria, Lebanon, Jordan, Morocco and Tunisia. For each country, he presents a detailed overview of its economic performance, covering internal and external imbalances, fiscal and monetary policies and growth prospects.
Arab World Facing the Challenge of the New Millennium