ID :
179801
Wed, 05/04/2011 - 08:05
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Shortlink :
http://m.oananews.org//node/179801
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Egypt, Syria, Tunisia, Yemen, Libya to enter econ downturn
LONDON, May 4 (Itar-Tass) - This year five Middle Eastern and North
African countries -- Egypt, Syria, Tunisia, Yemen, and Libya -- will enter
an economic recession phase, the Washington -based International Institute
of Finance (IIF) announced Tuesday.
The IIF brings together 420 major banks and financial institutions of
over 70 countries.
According to estimates made by IIF specialists, GDPdecline in Egypt
and Tunisia will be 2.5 percent and 1.5 percent, respectively, this year.
To Syria, this indicator will be 3 percent, and to Yemen - 4 percent.
As far as Libya is concerned, bankers refused to make any forecasts
about the depth of economic recession there.
African countries -- Egypt, Syria, Tunisia, Yemen, and Libya -- will enter
an economic recession phase, the Washington -based International Institute
of Finance (IIF) announced Tuesday.
The IIF brings together 420 major banks and financial institutions of
over 70 countries.
According to estimates made by IIF specialists, GDPdecline in Egypt
and Tunisia will be 2.5 percent and 1.5 percent, respectively, this year.
To Syria, this indicator will be 3 percent, and to Yemen - 4 percent.
As far as Libya is concerned, bankers refused to make any forecasts
about the depth of economic recession there.
