WB says Egypt and Tunisia to have weakest 2011 GDP growth in MENA.

By bne IntelliNews June 8, 2011
Egypt and Tunisia will have the weakest GDP growth rates among the developing economies in the Middle East and North Africa (MENA), the World Bank (WB) said in a report. The GDP growth in Egypt is to reach 1% and in Tunisia 1.5% in 2011, as the political unrest in the two countries has cut sharply into domestic growth. The economy of both Egypt and Tunisia is projected to pick up in 2012 and expand by up to 5% in 2013 depending on the progress in political and economic reforms. According to the report, industrial production in the two countries dropped 15% in the first few months of 2011, with tourist arrivals declining 45% y/y in the first quarter. For the whole region, tourist arrivals dropped 9% y/y in the quarter. The bank said the economies of the MENA region will grow 1.9% this year and will recover to nearly 4% in 2013 if MENA countries succeed to attract more capital inflows and investments.

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