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FINANCIAL NEWS
Arab Spring costs region USD800b
05 Oct 2012
(MENAFN) The Union of Arab Chambers of Commerce and Industry’s director, Adnan Al Qassar, stated that the Arab World has lost around USD800 billion as a result of the Arab Spring, reported Emirates 24/7.
Al Qassar said that the bulk of the amount were indirect losses, while the majority of the declines in capital flow occurred in Jordan, Egypt, Syria and the Maghreb countries.
However, he noted that flows could return to their normal levels as soon as the unrest is over, and once the Arab countries carry out reform plans, adding that in 2014, investments could reach USD23 billion.
It is worth noting that the political upheaval has also affected direct investment flow into the region as it declined to around USD8.6 billion last year from USD22.7 billion in 2010, according to Al Qassar.
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