Tuesday 3 April 2012

Rich-poor gap ‘widening in Mena’

Higher oil prices and geopolitical events are widening the gap between the “haves” and the “have nots” in the Mena region, said a report.

Oil exporters are outperforming, with oil revenues being used to fund investment in infrastructure and social programmes, said the Standard Chartered Mena Focus report.

In contrast, oil importers face challenges. Oil importers, such as countries in the Maghreb and the Levant, have high import bills, high unemployment and incredibly limited fiscal space to help boost their economies.

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