Arab Monetary: 28 percent unemployment rate among young people

Arab Monetary: 28 percent unemployment rate among young people



05/02/2017 0:00

Capitals / follow-up to the morning
Young people from Arab countries facing the crisis of unemployment, because of the lack of employment opportunities as a natural result of economic crises afflicting their countries, according to official figures recently announced by the Arab Monetary Fund, has averaged unemployment rate among Arab youth 28 percent.
Deficit and the growth of
many studies and reports that lower economic growth rates and the inability of public budgets in the Arab countries contributed to the deepening crisis.
According to the Arab Monetary Fund, the direction and the pace of economic growth to the slowdown finally, the lack of inclusive growth achieved for all segments of the citizens in some countries, as well as the adoption of a list primarily on capital accumulation growth models, in addition to the significant increase in the size of the Arab labor force, one of the main challenges It contributed to the high unemployment rate among Arab youth. Women 's unemployment , said the Director - General and Chairman of the Arab Monetary Fund Abdul Rahman Hamidi: The unemployment rate among young people in Arab countries reached 28 percent, compared to 12 percent globally. He added that the more severe unemployment among young women, who report 43 percent of the Arab countries, compared to 13 percent only at the global level. Graduates work concentrated youth unemployment in the Arab countries among the educated, who make up in some countries , up to about 40 percent of the total unemployed, new entrants to the labor market. Hamidi said that the proportion of the adult population in the Arab countries who have access financial and financing opportunities for formal services are not available to them, up to about 71 percent. He added: "This is the ratio of up to about 78 percent at the level of women, and 93 percent in terms of low - income groups in the Arab countries." Financial inclusion coincided Wednesday on Arab financial inclusion, aimed at enabling the various segments of the community access and use of financial and banking instruments, and called Hamidi need to strengthen financial inclusion in the Arab countries through the follow - up financial infrastructure development efforts, and improve aspects of the provision of protection for consumers of financial services, and work on the development of innovative financial services and products. According to available data, the unemployment rate in Egypt reached 13 percent of the total workforce, and increase the ratio to 25 percent among young people, and in Algeria and Morocco , the figure was about 12 percent of the total workforce, while in Tunisia stood at 16 percent. The Arab Monetary Fund was established as a financial institution by Arab states in 1976, in order to contribute to correcting the imbalance in the balance of payments of Member States and the stability of exchange rates among Arab currencies based in Abu Dhabi, United Arab Emirates


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