الجمعة، 14 أكتوبر 2011

Report: Arab spring cost more than $ 55 billion

The report said that popular uprisings that swept the Middle East this year cost the countries most affected by more than $ 55 billion, but the oil-producing nations have benefited from high crude prices because of the unrest.
The analysis of statistical data prepared by the International Monetary Fund Foundation Giobolesata political risk consultancy said the two countries, which witnessed the most bloody confrontations are Libya and Syria; bear the economic burden, where the largest followed by Egypt, Tunisia, Bahrain and Yemen.
And these countries lost $ 20.6 billion of gross domestic product and fiscal eroded the value of $ 35.3 billion with declining revenues and rising costs.
But because the major oil producers such as the UAE, Saudi Arabia and Kuwait have not seen mass protests; and that mostly by increasing grants thanks to high oil prices, the GDP grew.
Oil prices jumped from about $ 90 for a barrel of Brent crude in the beginning of the year to about $ 130 in May and then declined to about $ 113 at the moment.
The report said: "As a result, the repercussions of the Arab spring in the Arab region in general different, but positive in terms of the overall result," stated that the overall productivity of the region increased by about 38.9 billion in the year to September

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