Report: Arab Spring upheaval cost $55bn

[Gerald]

Libyan exception: Where other oil producers have gained, Libyan revenues have fallen by 84%.

The popular protests this year in North Africa and the Middle East - known as the Arab Spring - have cost the region more than $50bn, a new report says. The report, by consultancy group Geopolicity, says Egypt, Syria and Libya paid the highest financial price.It warns that without a regional support programme, the effects of the Arab Spring could be regressive.But oil-producing nations that have avoided or suppressed rebellions have benefited most, it says.Using data from the International Monetary Fund, the group says countries that have experienced intensive civil disturbances or conflict during the Arab Spring, are expected to lose the most in the short term.However, the report makes clear that costing the Arab Spring in 2011 cannot be done precisely. "Many critical economic indicators are unavailable, and the situation is highly fluid," it says. 'Overall gain' Libya, Syria, Egypt, Tunisia, Bahrain and Yemen have all been hit hard economically. Their costs to GDP amount to $20.56bn while costs to public finance total $35.28bn.

http://www.bbc.co.uk/news/world-middle-east-15303413


Note: 14 October 2011 Last updated at 07:52 GMT