Oil Curse The Political And Economic Growth - 1007 Words

This so called â€Å"oil-curse† has hindered both the political and economic growth in the MENA region. Although it has hindered it, I don’t mean in the negative side were money isn’t flowing into these countries, I mean that the countries are not in the best health. With having oil, and being able to sell it at huge profits come at big loses for the citizens for these various countries. Even though countries like Qatar, and Saudi Arabia are quite rich, the amount of political corruption happening in these countries. Political corruptions in the government has caused the political growth in these country’s to be turned upside down and many rebel groups have taken over the region. In the MENA region, this â€Å"oil-curse† has gained the region in wealth, however the way the wealth is being spent isn’t aiding to the countries growth. And in having such wealth, and it being spent in such a way, the countries are very easily paying for their poli tical ideologies and aiding rebels whom many considered terrorist. Just looking at economic growth, the Mena regions have a lot of money just sitting underneath them, however this reserve of oil isn’t being spent on what many seemed to be the best. In many of these countries, the oil, is being used to fund terrorist organizations and leading the deaths of millions. Even in the countries were they are economically wealthy they are not political wealthy because of the corruption. One good example is Qatar, where they are very wealthy from oil,Show MoreRelatedA State s Natural Resources Wealth Influence Its Economic Development1535 Words   |  7 PagesHow does a state s natural resource wealth influence its economic development? 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