Mideast wars cost $900 billion in economic losses since 2010: WB

Wars in the Middle East have incurred an estimated $900 billion in economic losses since 2010, a senior World Bank official said Monday, Report informs citing Daily Sabah.

Mahmoud Mohieldin – the World Bank Group's senior vice president for the 2030 development agenda, U.N. relations and partnerships – said conflicts in Arab countries between 2010 and 2018 resulted in massive economic losses due to physical destruction and missed development opportunities, according to the Kuwait News Agency (KUNA).

Mohieldin cited the Arab Spring in 2011, followed by wars in Syria, Libya and Yemen.

He said Arab countries have the worst income distribution in the world, with 10 percent of the population of these countries holding 60 percent of the national income. This ratio is closer to 45 percent in European countries.