Egypt Economy Incurs Losses Worth EGP120 bln Since January 2011

A recent study stated that since the outbreak of January 25 Uprising in 2011, massive losses worth EGP 120 billion (around RS 65.5 billion) have been inflicting on Egypt’s economy, al-Riyadh newspaper reported on Saturday.

The study was conducted by the Egyptians’ Centre for Political, Social and Legal Studies.

Centre’s Chairman Adel Ibrahim Amer further referred in his study that North Sinai Governorate tops the political violence map in Egypt, registering 38 attacks which were mostly armed. Cairo Governorate came second recording 32 attacks; whereas Giza Governorate ranked third with 30 attacks, he added.

Alexandria Governorate came in the fourth position witnessing 29 attacks. Monufia Governorate ranked fifth having 19 attacks; while Al Sharqia and Dakahlia Governorates both came in the sixth position registering 19 attacks for each.

Moreover, the study asserted that the Egyptian tourism sector was weighed most by the political unrest, incurring losses exceeded EGP 60 billion and witnessing the downsizing of 3 million employees directly working in the touristic industry in addition to 3 million others working and benefiting indirectly.