News Briefs

  10/2/2012, Tishrei 16, 5773

Arab Spring Blew in Rotten Economy

The rotten fruits of the Arab Spring revolts, following the global financial crisis three years ago, have been a severe cut in economic growth, according to Arab Monetary Fund director Jassem al-Mannai. "These countries have started to suffer from severe contraction in growth, an alarming rise in unemployment rates ... a deterioration in foreign reserves and a hike in inflation," al-Mannai told an Arab meeting in Kuwait, AFP reported.