Suchergebnisse

The Arab oil-based economies in the Middle East are experiencing a period of unprecedented economic growth and prosperity owing to the recent dramatic increases in their oil revenues. The countries, however, have started to encounter considerable difficulty in implementing their overly ambitious development plans. Their economies are exhibiting obvious signs of tension and stress with acute bottlenecks developing in many areas and sectors. These bottlenecks relate basically to their generally narrow resource base, inadequate infrastructure, profound labor shortages especially in skilled and highly trained manpower, and inefficient administrative machinery. The cumulative impact of these factors diminishes the capacity of these countries to absorb their tremendous oil revenues productively.