IDG News Service
Feb 4, 2011
The Egyptian government’s five-day block of Internet services cost the national economy at least US$90 million, the Organization for Economic Cooperation and Development (OECD) said Thursday.
The Paris-based organization said telecommunications and Internet services account for between 3 percent and 4 percent of Egypt’s GDP, so the daily loss amounted to around US$18 million.
The Internet block was lifted on Wednesday, but it might be much longer before the true cost of the government’s action on the economy is known.
By cutting telecommunications links, the government severed links between domestic and international high-tech firms and the rest of the world. As a result, the OECD warned, Egypt could find it “much more difficult in the future to attract foreign companies and assure them that the networks will remain reliable.”
This article was posted: Friday, February 4, 2011 at 6:02 am