The poverty rate in the Arab World has increased to 5% from 2.6% during the period from 2013 to 2016, the World Bank Group’s senior vice president for the 2030 Development Agenda said.
The Arab region’s economy is the worst in terms of the inequality of income distribution, Mahmoud Mohi El-Din added during the Arab Federation of Exchanges Conference on Tuesday.
The unemployment rate in the Arab region has hit its highest at 10.6%, doubling the average international unemployment rate, Mohi El-Din noted.
The Arab states need to $230 billion to finance the sustainable development, he highlighted, adding that they could raise around $130 billion through their internal and external resources which indicated a deficit of $100 billion.
He pointed out that the Arab region receives financial inflows through financial and non-financial companies.
The financial inflows to the region amount to around $217 billion, which the outflows reached $260 billion which causes a deficit in the inflows, hence comes the stock markets’ role, El-Din said.
He stressed that stock markets play a vital role in achieving sustainable development that the countries seek to improve the lives of their citizens.