El-Sisi expressed concern about the significant decrease in Egypt’s income from the Suez Canal
| While the warmongering of the American international coalition in support of Israel in the Red Sea continues, the Egyptian president expressed concern about the significant decrease in his country's income from the Suez Canal. |
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Al-Sisi in his speech during his visit to the achievements of the Egyptian Energy Exhibition in Cairo, the capital city of this country, the continuation of various crises He mentioned Libya, Sudan and the Gaza Strip as Egypt’s neighbors, as well as the tension in the Red Sea.
The president of the Republic of Egypt also stated about the decrease in the revenues of the Suez Canal in the northeast of his country: close to 10 billion dollars for Egypt, it is reduced by 40-50% while we for financial institutions we have obligations.
Al-Sisi also emphasized that Egypt in recent years with the crisis caused by the spread of the virus backlink” href=”https://www.mehrnews.com/service/corona”>Corona
(Covid-19) and the consequences of the war between Russia and Ukraine, while now facing the consequences of the conflict between Palestine and The Zionist regime is struggling
Sisi said in a conference with oil companies: “Look at what is happening on our borders with Gaza…, the Suez Canal, which brings nearly 10 billion dollars to Egypt annually. brings, (its income) has decreased by 40 to 50 percent and Egypt must continue to pay the costs to the companies.”
The United Nations announced at the end of January that in the last two months, a total of 42 ships passed through the Suez Canal, which connects the Red Sea to the Mediterranean Sea. The percentage has decreased.
According to the report of the United Nations Conference on Trade and Development (UNCTAD), the number of weekly transit of container ships through the Suez Canal has decreased by 67% compared to the previous year. The traffic of oil tankers has decreased by 18%, the transit of bulk cargo ships carrying grain and coal has decreased by 6%, and the transportation of gas has stopped.
The Suez Canal, which opened in 1869, generated about $8.6 billion in revenue for Egypt in the fiscal year 2022-23, and is a vital source of revenue alongside tourism. It was for the foreign currency of that country.
