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Plan to improve living standard

Arabs lost $450 b in Gulf War
ABU DHABI , May 18 : Arab states suffered direct material losses of 450 billton dollar tn the Gulf War and arc still feeling the consequent effects of slower growth and weaker international bargaining positions. the Arab Monetary Fund (AMF) has disclosed, reports AFP.
The Abu Dhabi-based fund said in its Just-released study. "Some Arab countries were talking about plans to improve living standards through more attention to education, health and environment, as well as to women and children."
"All this was prevailing until the war erupted and most such gains dissipated. The talk about growth became talk about a decline in productivity^ income and consumption by al least five percent."
"Attention will now have to be switched from Improvement In living standards to reconstruction, which will need more than a decade to be completed and will sap the Income of a whole generation."
The report. obtained Saturday, said total losses tn the war exceeded 800 billion
dollar but direct damage to civilian, military, oil and economic Installations In the Gulf topped 450 billion dollar
The study analysed the effects of the seven-month Gulf crisis, which erupted August 2. 1990 in the Iraqi invasion of Kuwait and ended In late Februtary. 1991. when Iraqi forces were driven out of the Emirate by a US - led military coalition.
Iraq alone suffered nearly 200 billion dollar in damages and Kuwait more than 160 billion dollar , the study found.
"Other losses included a sharp drop in production by the Arab private sector, a down-swing in business in many Arab nations and a rise in unemployment." ft said.
"As a result of Increased government spending on de fence and internal security, prices Increased and Inflation accelerated."
Outside the Gulf. Egypt. Yemen. Syria and Jordan suf fered most from the war, as they depend heavily on aid and remittances from the oil-rich region.
Their losses are estimated at more than 40 billion dollar.
The Gulf War also caused severe moral losses." said the AMF. the Arab league's top financial authority.
They Include a decline 1n respect for the Arab world by other international blocs after it was striving to win more confidence through negotiations. cooperation and economic agreements.
The effect of this will be clear when negotiations and dialogue with those blocs are obstructed and dealing with them becomes difficult."
The report said the war had , also hurt confidence tn Gulf oil an apparent reference to the disruption of crude supplies from Iraq and Kuwait, which produced nearly 10 per cent of the world's output before the war.
"Unfortunately, the decline in foreign confidence tn the Arabs and their oil Is coupled with a rise In confidence in Israel, which could help In serve as an alternative to Arab states in this region for International blocs.* the study warned.