Rethink economic growth for Arab social justice: UNDP and ILOListen /
The Arab uprisings have exposed skewed development policies, social justice deficits and over two decades of poorly managed economic liberalization.
That, according to a joint report by the International Labour Organization (ILO) and the UN Development Programme (UNDP) released Tuesday.
The report titled "Rethinking Economic Growth: Towards Inclusive and Productive Arab Societies", says the region's greatest deficits have been in the areas of social protection and social dialogue.
It says policies pursued during the 1990s and 2000s enabled countries in the region to tackle debt and inflation, spur economic growth and create jobs. But, growth lagged behind the rest of the world, new jobs were concentrated in low productivity sectors, and government paid little attention to the social consequences of their economic policies.
At the same time, the report says, the private sector has remained among the least competitive globally due to low rates of investment, a poor regulatory environment, and widespread nepotism and corruption.
According to the report, economic growth in the next decade hinges on good governance – which must improve to attract higher rates of investment and enable structural and institutional reforms.
Donn Bobb, United Nations.