viernes, 4 de febrero de 2011

Egypt crisis 'costing economy $310m a day'

Rioters in Suez Credit Agricole has revised down its estimate for Egypt's economic growth this year 
Egypt's uprising is costing the country at least $310m (£192m) a day, according to analysis from Credit Agricole bank. Economists at the bank have also revised down their economic growth estimate for Egypt this year from 5.3% to 3.7%.
Banks and the stock exchange have been closed for days, and many factories in the major cities have shut. There have also been more food price rises, one reason tens of thousands of protesters were already on the streets. Egypt is still in the middle of its peak tourist season, which commonly lasts until May, but airlines and travellers are shunning the destination.
The Suez Canal trade link, which earned Egypt revenues of $4.77bn in 2010, remains open. But Denmark's AP Moller-Maersk, the world's largest shipping group, has closed some facilities, including a canal terminal.
The building materials group Lafarge has also closed plants.

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