Arab Spring Quite Costly, Says Arab League Official

The Arab Spring has come with a cost not just in human life but has also had an economic effect, according to figures released Sunday.

Riot at Israeli embassy in Cairo
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Riot at Israeli embassy in Cairo

According to the data, the Arab Spring has so far cost Arab countries at least $75 billion. That figure was presented by the Arab League’s assistant secretary general for economic affairs, Dr. Mohammed bin Ibrahim Al-Tuwaijri.

Al-Tuwaijri said that while the Arab League’s economists have found that the many demonstrations, various falls of regimes and loss of economic stability have led to huge losses and estimated that this is not the end. He said economists predict that the economies of the various Arab countries will continue to suffer losses in the foreseeable future.

He said continued losses are expected to occur in countries whose future is uncertain, causing investors to back off, in countries where the falls of regimes have led to cancellations of infrastructure and construction projects, and in countries which have disassociated themselves in any way from the West.

Al-Tuwaijri added that he estimates that it will take the Arab Spring countries several years to emerge from the crisis.

Source material can be found at this site.

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