Economy rolling in the mideast

Apparently, 2004 was a good year for the stock markets in the Mideast. This interesting summary of ecomonic performance presents an optimistic picture of economies climbing. Also interesting is the decades-long problems of income growth in the Arab countries:

The per capita income in Arab countries grew at an annual rate of 0.5% over the past two decades--less than half the global average. Despite vast natural resources, a good educational system, adequate skilled labor and plenty of capital, which has largely been exported from the region, the standard of living in the Arab East has declined relative to the rest of the world. With very high birthrates, the region's labor force is increasing by over 3% a year--the fastest rate in the world.

With 80 million people living in poverty and 15% to 20% unemployment rates, the urgency of economic growth and job creation to absorb the growing labor force is vital.