• Economy & Finance

V Barcelona Euromed Forum: Facing Economic Transitions in the Mediterranean

In 2011, we have witnessed the beginning of a historic process of uprisings by the peoples of the Arab world demanding democratic reforms in the political, social and economic domains. In the economic field, the demands for the implementation of a more inclusive development model imply a better distribution of the economic growth among societies.

In this respect, urgent reforms should be endorsed with the main aim of creating new efficient jobs, especially among youths and women who suffer from high unemployment rates.

Other urgent issues to be tackled in the short term include: the professionalization of the public administration and the introduction of meritocracy as the rule for promotion; a deep and comprehensive new economic and institutional governance model with transparency, accountability and a real public service mentality as the core objectives of reforms; restoring the social credibility of the private sector and renewing its representatives in order to establish a new, binding, inclusive and fruitful dialogue with the Government and other relevant social actors, such as renewed labour unions; reforming the financial sector to make it more oriented towards the private sector and results as well as SME-friendly, including the Central Bank’s constructive and independent role; and implementing a progressive taxation reform and a courageous redefinition of a fair subsidy system.

Collaboration

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