5-day Internet blocking costs Egypt $90m

For illustration purpose only (AFP)

The Egyptian government’s blocking of Internet services for 5 days is likely to have cost the country $90 million (Dh330 million), according to preliminary OECD estimates.

 The blocked services - telecommunication and Internet - account for roughly 3-4 per cent of GDP or a loss of $18 million per day.

The long-term impact could be greater, the OECD warns, as it has cut off domestic and international high-tech firms who provide services globally and will make it much more difficult in the future to attract foreign companies and assure them that the networks will remain reliable. To date, attracting such firms has been a key strategy of the government.

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