The Egyptian presidency statement did not directly refer to the Houthis, but Sisi said in December the disruption cost Egypt around $7 billion in less revenue from the Suez Canal in 2024. The Yemeni group recently vowed to resume attacking U.S. vessels in the Red Sea, in...
"We have lost more than 50-60% of the revenue from the Suez Canal, and over the past 7-8 months, we have lost more than $6 billion," he added. The canal is a major source of foreign currency for the country. Attacks by the Iran-backed Houthis have led shipping firms to divert ...
In March, Egyptian President Abdel Fattah al-Sisi said that due to the regional turmoil -- including attacks on vessels in the Red Sea by Yemen's Houthis -- the Suez Canal was losing approximately 800 million U.S. dollars in revenue each month. The Egyptian statement added that the call ...
a huge 16.8 percent increase from a year earlier, and a sign that the economic slowdown was inevitable as rising interest rates and the weak Egyptian pound swallowed up much of the incoming revenue.
Revenues from the Suez Canal stood at $434.8 million in January, the state news agency said on Saturday, down from $445.5 million in December. The fastest shipping route between Europe and Asia is one of Egypt's main sources of foreign currency. A major expansion of the 145-year-old ...
Egypt’s Suez Canal revenue plunged by almost half in January, a top official said, after attacks by Yemeni militants on Red Sea vessels forced major shipping firms to avoid the waterway. Income was about $428 million in January 2024, compared with $804 million for the same period ...
doi:urn:uuid:d7c5ac2dc5b4a310VgnVCM100000d7c1a8c0RCRDStraddling one of the world's great sea routes, the Suez Canal corridor is set to become a bridge connecting Africa with Asia if a grand plan by Egypt's new government comes to fruition.Patrick WerrFox Business...
CAIRO, July 4 (Xinhua) -- Egypt's Suez Canal Authority (SCA) on Monday reported record-breaking revenue of seven billion U.S. dollars for the fiscal year 2021/2022, up 20.7 percent from a year earlier. "The income is the highest figure ever recorded and is over a fifth higher than ...
according to ʿUmar’s decree that no Arab could own land outside the Arabian Peninsula; this policy aimed at preventing the Arab tribal armies from dispersing and at ensuring a steady revenue from agriculture, on the assumption that the former landowners would make better farmers than would th...
Tax Revenue: % of GDP (%) 5.5 2023 yearly 2005 - 2023 National Government Debt (USD mn) 369,695.1 Jun 2022 quarterly Jun 2006 - Jun 2022 Government Debt: % of GDP (%) 68.6 Jun 2020 quarterly Jun 2006 - Jun 2020 Forecast: Government Expenditure (EGP bn) 7,219.600 2029 yearly ...