The first vice president of the World Bank, Mahmoud Mohieldin, declared on Sunday that the Arab countries urgently need to achieve sustainable development, eliminate poverty and improve the quality of life.
Mohieldin said in a speech at the beginning of the first (public) session of the fourth economic, social and development summit held this morning in Beirut, Lebanon, that this important conference is taking place at a time when the rhetoric is politically more unstable and more fragile Economic conditions, where the growth rates of the world economy have weakened, tensions and conflicts in international trade have increased and the risks for the various economies have increased with an increase in cost of the loan.
Mohieldin said: "We are witnessing major changes in global and regional economic balances, which have accelerated with the global financial crisis." There is an increase in the role of left and right populist movements with polarization in the political path, economic growth and the introduction of new economic forces.
Muhieddin stressed that in these circumstances the Arabs are perceiving a place for them in the hope that the agreements of the new international order will be fairer.
Dr Mahmoud Mohieldin stressed that in light of the turmoil and uncertainty and rapid political movement assisted by the world, the Arab economy is exposed to what may be called "changes in the age of great confusions. ".
Mohiuddin pointed out that the main traps are waves of displacement, an increase in the number of refugees, increased risk of drought, changes in the atmosphere and the pace of technological change.
It is worth noting that the Arab region has been hit by many geopolitical dilemmas: the cost of economic losses due to wars and conflicts is estimated at over $ 900 billion to add to previously accumulated burdens. "The percentage of people suffering from extreme poverty doubled from 2.6% to 5% in the period from 2013 to 2015.
In turn, it has been argued that the Arab economic region is the worst in the unequal distribution of income worldwide, with the richest 10% of the population representing 61% of national income, while the 10% richer in the 39; EU does not exceed 37% With the capital Beijing 41%, India 55%. "The Arab economy is currently suffering from the highest unemployment rate in the world, which has reached 10.6%, which is close to twice the average global unemployment rate and the current rate is 7.5%, which is the most concentrated among young Arabs and highest among women Compared to men, emphasizing the need for the Arab economy to generate 10 million new jobs every year Until unemployment is addressed.
In turn, it has been suggested that, in the context of the financing and in reference to the executive action plan issued in Addis Ababa in 2015, I underline that the financing of sustainable development does not come from scattered financial transactions or dispersed expenses, but must be based on an integrated approach of coherent policies and efficient institutions.
He stressed the need to improve the system of Arab tax resources, such as the average in the Arab countries of 11%, which is lower than the recommended rate of 15%.
As for the development of the Arab world through the participation of the private sector, Mohiuddin, the first vice-president of the World Bank, said that there are good opportunities and promising participation of the private sector in investing in the Arab world.
On the axis of financial flows, the Foreign Minister in the financing plan of sustainable development of the Arab world, stressed that the Arab economy is still a source of financing abroad, which reduces opportunities for financing relying on the financial resources of self, indicating the increase of official development assistance in the past period, Humanitarian assistance and refugees.
Regarding exchanges in the Arab world, Mohieldin said: "I do not want to extinguish the light that the Secretary General has been charged with improving the procedures for the Great Arab commercial zone, but there are still constraints related to transport and logistics costs , despite the proximity of the distances, Customs barriers ".
Mohieddin proposed an integrated e-commerce strategy that would help meet the requirements of the new industrial revolution.
Emphasizes that the objectives of sustainable development will not be achieved without updating science and benefiting from technology and innovation, underlining the need to develop the Arab economic base and the general rules of control for data protection and investment in capital human.