Egyptian Military Says Protests Harming the Economy, May Threaten Security

Egypt’s army urged people to return to daily life, saying protests are hurting the economy and threaten to weaken security in the country.

“It has been noticed that some sectors of the state have been organizing protests despite the return of normalcy,” the military said in a statement read on state-run television. “Honorable Egyptians see that these protests at such a critical time lead to negative implications.”

The central bank ordered banks shut today due to protests by bank employees.

“The Supreme Council of the Armed Forces urges citizens, professional and labor unions to play their roles,” the army statement said.

Egypt’s economy lost $310 million a day during the unrest, which led to President Hosni Mubarak’s Feb. 11 ouster, Finance Minister Samir Radwan said yesterday. The demonstrations shut down businesses, scared off tourists and pushed Egypt’s borrowing costs higher.

This entry was posted in state security and tagged , , . Bookmark the permalink.