FINANCIAL NEWS

Arab Spring distresses economies with USD816b bill

16 Dec 2015

(MENAFN) The devastating Arab Spring resulted in a total cost of a staggering USD816 billion on Arab economies, according to the latest reports.

The final figures are based on a calculation that factors in the cost of rebuilding, losses in gross domestic product, losses to tourism and the refugee crisis.

Based on GDP growth estimates and local currency exchange rates, the collective losses to the GDP that could have been sustained were at USD289 billion.

“Whether we are with or against the Arab Spring, we have to look at it in the context of civilization to realize that it has led to a sharp deterioration in the region,” said an economist.

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