Fund slashe­s outloo­k for region's three larges­t econom­ies, Saudi Arabia, Iran and UAEDUBAI: Unemployment and sluggish economic growth are fuelling social tension and popular protests in several Arab countries, the International Monetary Fund (IMF) said Monday. Earlier this month the fund lowered the 2019 forecast for economic growth in the region, which includes the Arab nations and Iran, to a meagre 0.1% from 1.1% last year. The IMF slashed its outlook for the region’s three largest economies, Saudi Arabia, Iran and the United Arab Emirates. The IMF report said that the high unemployment was worsening social tensions in Arab countries. “Unemployment averages 11% throughout the region versus seven percent across other emerging market and developing economies,” it said.

Source: The Express Tribune October 28, 2019 15:00 UTC