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IMF: Tunisia's GDP Per Capita Is Lowest Among Arab Maghreb Countries

IMF: Tunisia's GDP Per Capita Is Lowest Among Arab Maghreb Countries

Sunday, 10 March, 2019 - 13:30
London- Asharq Al-Awsat
The International Monetary Fund (IMF) said that Tunisia's gross domestic product (GDP) per capita is the lowest among countries of the Arab Maghreb region during the period between 2013-2017.

According to a report published on Saturday by the IMF, Tunisia's GDP per capita between 2013 and 2017 was 0.4 percent while Morocco’s was 0.7 percent.

Algeria’s GDP per capita amounted to one percent, Mauritania was 1.1 percent and Libya scored the highest at 28.5 percent.

The IMF said Algeria is considered one of the region's largest economies and the upper-middle-income states with an important position among oil and gas exporting countries.

Algeria faced economic challenges due to low oil prices in 2014 as it relied heavily on hydrocarbons, the report added.

It said the Kingdom of Morocco is the second largest economy in the Arab Maghreb region and is witnessing a gradual transformation and relatively good economic diversification.

Although it is a source of agricultural products, cars, and fertilizers, it is still vulnerable to the volatility of agricultural output and foreign demand, it noted.

The report pointed out that Arab Maghreb countries have taken major steps in economic reforms in recent years, yet pushing for faster growth given the large youth population in this region.

A merger in Arab Maghreb would create a market including 100 million people, with an average income of $1,000 per capita as a nominal value and about $12,000 on the basis of Purchasing Power Parity (PPP).

Integration among Arab Maghreb countries will help attract more direct foreign investment into the region and reduce the costs of trade, capital, and labor flows across those countries.

IMF expected this integration to further strengthen the region's resilience to external shocks and market volatility.

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