The economic situation in the Arab region “can be characterized by its polarizing economic performance between major energy exporters and other Arab countries,” according to ‘Abd Allah al-Dardari, Director of the United Nation’s ESCWA Economic Development and Globalization Division.

Speaking at a press conference on 24 January to launch the UN’s The World Economic Situation and Prospects 2014, Mr Dardari, who is also the program’s Chief Economist, said major energy exporters, mainly of the Gulf Cooperation Council (GCC) countries, have registered a stable growth with rising domestic demand through active fiscal policy. Political instability and social unrest has clouded the economic situation of other Arab countries however, “namely the Mashreq, Maghreb and Arab Least Developed Countries.” (CONTINUED - 656 WORDS)