text: resources andenvironmental capacities andtherehabilitation oftheenvironment previously sUbjected todegradation andmisuse. 34.39 Private sectorinitiatives willbeencouraged todevelop intensive agriculture. Thesecouldbeintheareaofagro-processing, including by-product utilization andexport anddomestic marketing. Whereappropriate, theprivate sectorwillbeencouraged toshoulder themajortaskofproviding theservices and supplies tothefarms. 34.40Direct assistance totheregional associations foragricultural credit and agricultural foodmarketing, theregional centre onagrarian reform andrural development andthelandandruraldevelopment programme ofAI-Ouds OpenUniversity willbeprovided onacontinuing basisduring the'medium-term planperiod. SUBPROGRAMME 2.DEVELOPMENT ISSUES ANDPOLICIES (a)Objectives 34.41 Thelegislative authority forsubprogramme 2derives fromGeneral Assembly resolutions 43/182, paragraphs 3and4;43/186, paragraphs 3and4;44/169, section Ill,paragraph a(ii)oftheannex; 44/179, paragraphs 5and6;44/236 paragraphs 5and8oftheannex; andCommission resolutions 93(VIII), paragraphs 1 and2;114(IX),paragraphs 1,2and3;118(X),paragraphs 1,2,3and5; 1001(VIII), paragraphs 1,2and3;173(XV);and176(XV). 34.42 Thesharpdropinoilprices andrevenues hasledtoarecession ineconomic activities inthecountries oftheregion. Theproblems facedbythesecountries aretheincreasing balance-of-payments deficit, areduction infinancial resources available fordevelopment andgrowing debtanddebtservicing. Thisclearly demonstrates thedanger ofeconomic d~pendence ofsomecountries oftheregion on theexportation ofasingle commodity, namely, oil,whichhascontinued todominate economic activities. Tocopewiththeseproblems, member countries haveadopted structural adjustment pOlicies designed tosustain economic development with emphasis giventothepromotion ofsubregional andregional economic co-operation andintegration. Thetwoleastdeveloped countries oftheESCWAregion (Democratic YemenandYemen) aredependent onexternal financial resources tofinance development projects andtofinance theirlargetradedeficits. Forinstance, more than60percentofdomestic investment comesfromexternal sources whileon average, exports coveronlyabout3percentofimports. Economic recession inthe Gulfregion hasledtoareduction intheexternal resources available tothese countries. Special attention willtherefore bepaidintheupcoming phasetothe promotion ofdomestic financial resources andtothepromotion ofareasof co-operation between thetwocountries. Efforts tocopewiththeproblems facedby countries oftheregion havebeenhampered byalackofsystematic economic analysis andofdata. 34.43 Inviewoftheircontinued relevance, mostoftheobjectives ofthe subprogramme during theforthcoming medium-term planperiod arethesameasthose ofthecurrent plan. Theywillfocusonthefollowing issues: -10- Digitized by Dag Hammarskjöld Library(a)Contributing totheharmonization andco-ordination ofstrategies, policies andprogrammes ofmembercountries intheeconomic andsocialdevelopment fieldstowards attaining subregional andregional economic integration; (b)Assisting thetwoleastdeveloped countries inidentifying their development needs, promoting theirselfreliance ondomestic financial resources andtheefficient allocation oftheseresources; (c)Disseminating information ontheeconomic andsocialdevelopments inthe region; (d)Stimulating theprivate sectortoplayamoreprominent roleinthe implementation ofdevelopment projects ofthetwoleastdeveloped countries. (b)Courseofactionofthes~cretariat 34.44 Thesecretariat willundertake thefollowing activities underthis subprogramme: (a)Harmonization andco-ordination ofplans, programmes andpolicies of membercountries oftheregion. Sincetheseactivities areintersectoral, they willbeundertaken jointly withtheconcerned divisions inESCWA. Efforts willbe madetoco-operate withnational andregional organizations inordertoexplore the
analysis: This text appears to be focused on the economic development of a region, specifically the Middle East and North Africa, and the strategies and policies put in place to achieve sustainable development. It touches on various aspects, including agriculture, natural resources, and industry, as well as international cooperation and economic integration.