Egyptian President al-Sisi announces a 50-60% decline in Suez Canal revenue, linked to regional instability.

Egyptian President Abdel Fattah al-Sisi announced a $6 billion loss in Suez Canal revenue, reflecting a 50-60% decline over the past eight months. This downturn is linked to escalating geopolitical tensions in the region, particularly Israel's military actions in Gaza, which have heightened instability. The Suez Canal is crucial for Egypt's economy, serving as a key trade route and a major source of foreign currency.

September 29, 2024
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