1999 economic performance improves in the Arab states

Economic performance in all the Arab states has improved during 1999 due to constant development, improvement of internal and external budgeting and rising oil revenues.

A specialized economic report of the economic unity council said the gross domestic product (GDP) of the Arab states reached $ 621.1 billion while in 1998 it stood at $ 585.5 million.

The economic report quoted by Kuwaiti news agency KUNA has classified the Arab states into three groups. The first group includes Kuwait, the United Arab Emirates, Saudi Arabia, Syria, Oman, Qatar, Bahrain, Yemen, Sudan and Algeria.

The GDP in Algeria grew 7.2% in 1999 compared with the previous year when it was 7%.

In Kuwait, the GDP grew 16.8% and the total GDP of the group represent 57.5% of the total GDP of all Arab states.

The GDP of the second group which includes Jordan, Tunisia, Lebanon and Egypt reached 6.3% in 1999 down from 8.4% in 1998.

In the third group of Libya, Morocco and Mauritania, the GDP reached 0.9% in 1999 from 0.8% in 1998.