Arab states need more structural reform, short-term plans to grow faster: economists | ZAWYA MENA Edition

Arab states need more structural reform, short-term plans to grow faster: economists | ZAWYA MENA Edition:

Arab nations should continue implementing long term structural reforms, but pushing through short-term policies is key to boosting growth in the coming few years, according to three senior economists.

Mohamed Abu Basha, head of macroeconomic analysis at Cairo-based investment bank EFG Hermes, said the region’s three biggest economies of Saudi Arabia, the UAE and Egypt have already started introducing short-term measures aimed at boosting employment and economic growth, while maintaining diversification plans.

“They do have short-term plans… and they have spotted the structural reforms they need to work on to boost their growth rates, so they are on the right track… But they need to continue to do that and (do) more of that,” Abu Basha told Zawya in a phone interview last week.