For many Arabs across the Middle East and North Africa, the so-called 'Arab Spring' will bring a cold bout of economic uncertainty and decline. This is the grim truth of revolutions: they do not yield economic benefit in the short-run.
Rather, they usually make things worse.
Signs abound that a spring of uprisings could usher in economic discontent. Al Hayat reports that some $30 billion (Dh110.1billion) in capital fled the region in the first quarter of 2011. Unemployment has ticked up in both Egypt and Tunisia. Yemen's economy is teetering on the brink of disaster and Syria's own president, Bashar Al Assad, warned of 'the collapse of the Syrian economy' in a speech in June.
No comments:
Post a Comment