ABU DHABI, 23rd February, 2016 (WAM) — Successive economic developments in Arab countries are posing tremendous new challenges to Arab decision-makers, Dr. Abdulrahman Al Hamidy, Director-General and Chairman of the Board of the Arab Monetary Fund, AMF, told a workshop on Arab Economics Development and Prospects today.

He said Arab decision-makers need to focus not only on analysis of economic developments but also to put on more parallel efforts in the area of economic prediction and forecasting in a way that ensures efficient drawing of economic policies to support a macro economy.

Organised by AMF’s Economic Policy Institute, the three-day event draws 31 participants from 14 countries to discuss the latest developments in the global economy and their impact on Arab economies and the AMF’s role in this respect.

In his welcoming address, read on his behalf by Dr. Saud Al Braikan, Director of the Economic Policy Institute, the AMF chief said that the pan-Arab institution was committed to responding to the requirements of member states to broaden their technical knowledge and build capacities.

In line with its continuous efforts to assist the economic decision making process in Arab countries, the AMF released the first edition of its “Arab Economic Outlook Report”, which contains updated forecasts of economic growth and inflation rates for Arab countries in 2015 and 2016.