Tunisian economist calls for more inter-Arab cooperation
Tunis, Tunisia (PANA) - A Tunisian economist says Arab peoples are frustrated by the failure of their governments to raise the level of inter-Arab cooperation.
They also are unhappy that decisions of the Arab League have remained unheeded, Hakim Ben Hammouda, who is also a former Tunisian finance minister, said.
He was speaking at a conference organised on Wednesday in Tunis by the Tunisian Institute for Strategic Studies, in collaboration with the League of Arab States, on "The stakes of Joint Arab action in the light of regional and international changes."
He noted the inability of post-independence Arab systems to create inclusive development, support growth, diversify structures and restore financial balances.
Pointing out that the average growth in the Arab region did not exceed 2.2 pc in 2018, the lowest level of growth compared to other regional groups, Mr. Hammouda argued that this growth level is far from being enough to create development.
In the same vein, he said, Arab countries, despite their natural wealth and human resources, were experiencing a crisis due to the rise of their budget deficits, which hampered the development, investment and complementarity between these countries.
Citing the Tunisian experience, Mr. Hammouda denounced the interference of international financial institutions such as the World Bank, in national decision-making.
He also criticised the dependence of Arab economies, especially the oil-exporting countries, on the export of oil and gas, thereby experiencing the effects of volatile oil prices on an international scale.
-0- PANA YY/IN/JSG/BBA/MA 14March2019
