2024-09-30
Arab Finance: Egypt has lost $6 billion in Suez Canal revenues over the past seven to eight months due to escalating geopolitical tensions in the region, President Abdel Fattah El-Sisi stated during the 2024 graduation ceremony of the Police Academy on September 29th.
Since October 7th, the Middle East has experienced heightened conflicts, particularly with the recent escalation between Israel and the Lebanese Hezbollah group, which has seen significant violence, including the assassination of several key Hezbollah leaders, including their leader Hassan Nasrallah.
Despite these challenges, El-Sisi expressed confidence in Egypt's economic stability, stating that the situation is improving.