Abstract

A study conducted by the Department of Research of the Secretariat General of the Arab Banking Union entitled „Developing the Arab Economy in 2014 and 2016,” it shows that this economy has experienced a decline in growth compared to 2012, a decline in Real GDP growth. Uncertainty, complexity and social conditions as well as political changes are among the most important factors that hamper economic activity in the region. Economic freedom is one of the most important indicators of the level of conditions and situations that prevail in all countries, especially in the Arab countries. If this indicator is negative, it will reflect the country’s situation. Economic and social freedom is just a mirror of a political situation affected by many shortcomings culminating in a reaction to violence in which Arab governments are facing popular riots during what became known as the Arab Spring. The Arab economy has experienced a decline in real growth in 2013 as compared to 2012, reflecting the decline in real GDP growth. This is due to several factors, the most important of which are the fall in oil prices, energy export earnings in oil-exporting countries, and ongoing political and social unrest in the region since the Arab Spring began.

Keywords: Arab Spring, protests, revolution, North Africa, Arab economics, GDP, Arab countries, development, inflation, evolution, ESCWA’s, OPEC, oil, growth, fiscal situation, budget

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