The Arab world needs urgent economic and social reforms to achieve sustained economic growth.
That is the conclusion of a report released today (Saturday) by the Geneva-based World Economic Forum.
The Arab World Competitiveness Report 2005 focuses on the challenges facing Arab countries beyond the energy sector so they can continue to remain viable in the global economy.
The report found that the smaller Gulf countries of Bahrain, Qatar and the United Arab Emirates were ahead of Algeria, Egypt and Saudi Arabia in building up competitive economies.
The study cited government corruption, rising public sector debts and poor use of available technology as the main impediments to economic growth and development.