Egypt stock losses worse than financial crisis
2011-02-03 17:41:45
Egypt's stock market losses as a result of the current political crisis significantly exceed those caused by the global financial crisis, Finance Minister Samir Radwan said on Thursday.
"The losses are huge; they have yet to be assessed but even now it is pretty obvious that they will substantially exceed the losses durng the world financial crisis," he said in an interview with al-Arabiya television.
The Egyptian stock exchange halted trading last Thursday after plummeting 10.5%. The market has lost an estimated $12 billion.
Anti-government protests broke out in Egypt on January 25. The unrest has already claimed the lives of at least 300 people and injured several thousand.