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The World Bank Annual Report 1998 : Middle East and North Africa

By The World Bank

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Book Id: WPLBN0000189431
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005
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Title: The World Bank Annual Report 1998 : Middle East and North Africa  
Author: The World Bank
Volume:
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Historic
Publication Date:
Publisher: The World Bank

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Bank, T. W. (n.d.). The World Bank Annual Report 1998 : Middle East and North Africa. Retrieved from http://members.worldlibrary.net/


Description
Economics

Excerpt
GDP rose by nearly 6 percent in 2004, driven by the continuing increase in the price of oil. Since 2000 growth has averaged 3.8 percent, about the same rate of increase as in the 1980s and 1990s. Iran led the group with 6 percent growth over this period. Middle East and North African countries are slow to encourage business with regulatory reform Creating a good business environment is key to creating jobs, fi ghting poverty, and improving growth. Developing economies in Eastern Europe are streamlining business regulations and taxes, but there?s still a lot of red tape in Middle East and North African countries. For example, it takes 47 days in Iran to complete the required procedures for legally operating business, and 36 days in Egypt. But some countries such as Morocco have made progress: in 2003 it took 36 days to complete the paperwork, but in 2005 it was down to only 11 days (better than the 24 days required in high-income economies, on average). Tourists and immigrants have contributed to Middle East and North African economies International tourist arrivals worldwide for 2005 exceeded 800 million?an all-time high?and these tourists also spent considerable amounts of money on their trips. Receipts from international tourists were 17 percent of exports in 2004 for the Middle East and North Africa region. Syria and Lebanon are leading examples of tourism promotion, both achieving double digit growth rate in number of arrival of international tourists between 1999 and 2004. Middle East and North Africa region has hosted a large number of immigrants ? 3% of total population, twice the average share of immigrants in developing countries. In 2004, offi cially recorded remittances sent out of countries in the region reached more than $3 billion, 50% higher than fi ve years ago, while remittances received were more than $20 billion.

 

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