A report issued by the United Nations Economic and Social Commission for Western Asia (ESCWA) revealed two economic scenarios that the Arab region will face during 2021: one is optimistic, and the other tends to be pessimistic. The optimistic scenario expects a growth rate of three and a half percent in the new year. In the less optimistic scenario, growth rates in 2021 are expected to not exceed 2.8 percent. According to "ESCWA", the two tracks will be determined based on the countries' ability to confront the Corona epidemic, due to which the Arab region lost nearly $ 140 billion in 2020.
According to ESCWA, the crisis in the Arab region includes major social challenges, such as poverty, which next year may reach 32 percent, to include 116 million people. There is also the challenge of unemployment, which, according to the ESCWA report, is expected to increase its rate in the Arab region to 12.5 percent. Added to all this is the persistence of gender inequality in all its aspects, as the report shows that the region continues to register a gender gap of 40 percent, which is the highest in the world.
But the optimistic scenario indicates, on the other hand, that the group of middle-income Arab countries will achieve the highest growth rates in the region at 5 percent. While the growth rates in the region in middle-income countries will reach only 4.1 percent, according to the less optimistic scenario.
Source (Ad-Dustour Jordanian newspaper, Edited)
