From a distance, the Arab world appears to have a poor one-third of its population: UN Survey
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Salma Hossein
- . December 31, 2022
- . Update: December 31, 2022 8:14 pm
Although the Arab world appears to be wealthy from a distance, a sizable portion of its population is impoverished. Here, “big population” refers to a population of roughly 130 million. Nevertheless, some wealthy nations are left out of this.
According to a survey conducted by the Economic and Social Commission for Western Asia (ESCWA), one-third of people in the Arab region l
From a distance, the Arab world appears to have a poor one-third of its population: UN Survey
ive in poverty. Libya and the members of the Gulf Cooperation Council (GCC) are excluded. Six Arab nations, including the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Qatar, and Bahrain, make up the Gulf Cooperation Council.
According to the poll, the percentage of people living in poverty is expected to increase over the following two years, reaching 36% in 2024, according to Xinhua news agency.
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Additionally, the Arab world’s unemployment rate of 12 per cent in 2022 was the highest in the world. The post-Covid-19 economic recovery efforts, according to the poll, could result in a very minor drop to 11.7 per cent in 2023. It projects that the economy of the area will expand by 3.4 per cent in 2024 and 4.5 per cent in 2023.
The GCC and other oil-exporting nations will continue to profit from increased energy prices, according to survey chairman Ahmed Moummi, while oil-importing nations will experience a variety of socio-economic difficulties, such as rising energy costs and food shortages.
The amount of foreign aid coming into the region and tourism have both decreased. According to Moummi, oil-exporting Arab nations should invest in initiatives that promote equitable growth and sustainable development in order to diversify their economies away from the energy industry.
