Arab exports increase by 5.11% in 1997

A report released by the Arab League AL in collaboration with Arab monetary, economic and oil institutions stressed that Arab exports have scored development growth rates estimated at 5.2% since 1991 through 1997, thanks to corrective and adjustment policies and monetary measures applied by most Arab states in orienting state's expenditures, limiting local demands and reducing imports.

The report, which was issued for 1997 by the AL in collaboration with the Arab Monetary Fund, OAPEC (Organization of Arab Petroleum Exporting Countries), and the Arab Fund for Economic and Social Development, says average of registered growth of Arab exports during the two past years increased to 5.11% due to a "tangible increase in the world oil prices."