BREAKING NEWS

HSBC: Arab Spring to cost Middle East $800 billion

By REUTERS

OCTOBER 9, 2013 16:32

DUBAI - The Arab Spring uprisings will end up costing Middle Eastern economies about $800 billion in lost output by the end of next year as countries struggle to restore stability, banking giant HSBC estimated on Wednesday.

In a research report, HSBC predicted that at the end of 2014, gross domestic product in the seven hardest-hit countries - Egypt, Tunisia, Libya, Syria, Jordan, Lebanon and Bahrain - would be 35 percent lower than it would have been if the 2011 uprisings had not happened.

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