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FINANCIAL NEWS
Turmoil in Arab countries to cost USD800 b
09 Oct 2013
(MENAFN) HSBC Holdings estimates that the political unrest in the Arab World that began in Tunisia in 2011 will significantly slow the economic performance of the affected countries by the end of 2014, Times of Oman reported.
A joint report released by HSBC and Dubai economists estimate that the turmoil in countries as Egypt, Syria and Libya will bring the cumulative economic output for the region down to USD2 trillion from USD2.9 trillion before the unrests.
“Such a long period of sub-trend growth offers scope for a period of more rapid expansion as troubled economies bounce back,” the report said.
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