This chapter has explained the economic performance of Arab countries during the past three decades and how they relate to reform programs. The analysis has shown that Arab economic suffers from Chronic Low-Growth Syndrome due to the strong relationship between economic growth and oil markets. Oil prices have always been experiencing intense volatility, and usually, took a fallen-down trend, except for the period from 2003 to 2008, especially the drops after the global financial crisis post-2008. These trends should ring alarm bells for all Arab countries without exception, especially with the current region's challenges. Many countries under civil war such as Iraq, Libya, Syria and Yemen need mass funds for reconstruction. Other countries have high debt ratios in RPLA and LICs, while the social expenditures are continually declining.

To further understand the origins and drivers of Arab economies' evolution, this chapter explores why Arab economies have failed to realise sustained and inclusive development. The chapter is divided into two main parts: the first one assessing the macroeconomic performance of ACs while the second is generally evaluating the impact of socioeconomic reforms on economic performance.

Citation

Abdelbary, I. (2021), "Insight of Arab Economics: A Reforming Outlook", Reviving Arab Reform: Development Challenges and Opportunities, Emerald Publishing Limited, pp. 39-51. https://0810bj2yb-1106-y-https-doi-org.mplbci.ekb.eg/10.1108/978-1-83982-318-320211004