Long-term impact could be even worse.
According to a AFP report, Egypt’s suppression of Internet communication in an attempt to stop the nation-wide protest likely cost the country $90 million and the long-term impact on the economy could be even worse, the Organisation for Economic Cooperation and Development said on Thursday.
“The blocked telecommunication and Internet services account for roughly three to four percent of gross domestic product (GDP) or a loss of $18 million per day,” the OECD said according to its preliminary estimates.
The Paris-base economic body warned that the long-term impact “could be greater” due to the cut offs faced by domestic and international high-tech firms that provide communication services globally.
It will be “much more difficult in the future to attract foreign companies and assure them that the networks will remain reliable,” it added.