Egypt's Suez Canal revenues fell by over 60% in 2024, losing about $7 billion due to regional challenges.

Egyptian President Abdel Fattah al-Sisi reported a more than 60% drop in Suez Canal revenues in 2024, amounting to a loss of around $7 billion. This decline is attributed to regional challenges, particularly in the Red Sea and Bab al-Mandab Strait. Al-Sisi instructed the Suez Canal Authority to continue developing the canal and improving navigation services to maintain its role in global trade.

3 months ago
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