Fires cost Egypt $1.1bn in one month

A series of fires that have swept Egypt over the past few days have cost the country almost $1.1 billion in one month, an economist has said.

The blazes destroyed shops, markets, houses, gas stations and government buildings and killed livestock.

Abu Bakr Al-Deeb, an economist, predicted that the losses of a month of fires would rise in Egypt to almost 10 billion Egyptian pounds ($1.1 billion).

He added that these facilities contain equipment, goods, including textiles, plastic tools and hardware, pointing out that the causes of fires increased in Egypt due to the erratic electricity supply, the use of cheap devices and electric cables that do not meet standard specifications. In addition to this, the use of gas cylinders that also do not meet specifications and the careless use of such as lighters and match sticks.

Al-Deeb warned that markets in the country may be subjected to major disasters because industrial safety standards have not been adhered to. He added that a lack of inspectors to ensure standards are met, government leniency towards those found to be flaunting the rules and poor salaries make the situation unsafe.