Report: Egypt protests cost $310M per day
Egypt's economy has lost at least $3.1 billion as a result of the political crisis in the country, investment bank Credit Agricole said in a report released on Friday, as tens of thousands of protesters massed in downtown Cairo demanding the president's ouster..
Credit Agricole, in one of the first assessments quantifying the damage to the economy, said the crisis is costing Egypt at least $310 million per day. The bank also revised down its forecast for 2011 GDP growth to 3.7% from 5.3% and said the Egyptian pound could see a depreciation of up to 20%. (AP)
