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3 has caused the world economy in the next year to make the "hard"



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The headquarters of the Saudi News of the World Bank

Fred Belhadj, Vice-President of the World Bank's Middle East and North Africa, said on Sunday, he said that there are three problems in the world economy in the next year will make it "difficult."

He added Belhadj in a public meeting, which took place the Kuwaiti Economic Society called (youth innovation and the fourth industrial revolution in the Middle East and North Africa), the first of these problems with the & # 39 are the global trade disruptions, which will be signed positively on the world economy.

He said that the second of these problems with the & # 39 is the sovereign debt of many countries, which create a significant burden in the home or in Argentina, Turkey, and even some Arab countries such as Lebanon and others, pointing out that the third the problem is that high interest rates, which requires Arab to be a "real and careful and ready."

Showed that the Arab states, that these problems are considered possible, especially since the region has a large segment of young people, pointing out that the Arab region has seen considerable unrest since 2010 due to the so-called (the Arab Spring).

He said that the World Bank Group was present in the Arab countries during this fuss in the first two levels of dealing directly with the countries exposed to these violations and to restore economic stability through support for some countries in the region are also particularly Kuwait.

As to the second level was the intervention of the World Bank Group due to the interaction with the neighboring countries who are affected by these violations occurred, such as Lebanon and Jordan, especially in terms of its support for the humanitarian efforts relating to refugees and to support these countries in economic terms.

Said Belhadj: The World Bank Group is working with the countries that have suffered from violations in terms of the recovery up like Iraq, or in terms of economic reform, such as Egypt, which has entered a phase of economic reforms, where these reforms give the most important results of increasing the pace of economic Egypt's growth will reach 5.6% in the last year has begun.

He added that the (World Bank) contributes to the economic growth of the country by opening up the economy to the private sector with regard to the social aspect, to reflect the impact of economic growth on the poor and vulnerable groups.

He noted that the number of young people in the Arab world in 2050 will reach 300 million people, that would be a problem for the labor market, and at the same time a great historic opportunity, which is a & # 39 is that the World Bank's disk group in the Middle East and North Africa, to focus its strategy on three axes.

Belhadj and the number of these centers of human capital and promoting a culture of entrepreneurship among young people and, finally, the use of technology or the so-called (economic) digitization.

He explained that there is a large technological gap between the Arab countries and developed countries, prompting the World Bank Group, to launch a number of initiatives, including (moon shot), to reduce the deficit in the gaps, emphasizing at the same time it will be asked to analyze this gap and work to reduce their government.

Responding to questions from the audience, he said that the World Bank Group has put all of its development projects and programs with full transparency on its website, calling on all to know about any doubts about the program or project implemented by the Arab Group States.

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