Friday, August 18, 2017 - 19:56:54

Political crisis costs Egypt 310 mln USD per day

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Egypt ’s turmoil is costing the country's economy about 310 million USD a day due to shuttered business and tour cancels, France ’s Credit Agricole Bank reported.

Egyptian Minister of Industry and Trade Samiha El-Sayed Ibrahim said the country’s export reduced by 6 percent in January due to curfews and difficulties in goods transport.
The bank also predicted Egypt ’s economic growth will only stand at 3.7 percent in 2011 as a result of demonstrations.

Egyptian Vice President Omar Suleiman on February 8 called for an end to prolonged demonstrations that is causing great damages on the country’s socio-economic situation.

He stated that the government wants to address the crisis through negotiations and President Hosni Mubarak will not resign immediately but hand over power.

Suleiman also opposed foreign intervention into the current situation in Egypt. /.

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