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Egyptian President Abdel Fattah El-Sisi announced that the Suez Canal lost more than 50 to 60% of its income during the past 8 months, estimating losses at more than $6 billion.
Al-Sisi pointed out, during his speech at the graduation ceremony of a new class from the Police Academy in Egypt on Sunday, that the region and the world are going through very difficult circumstances.
He said: “The developments taking place are very dangerous and may lead to an expansion of the conflict in the region in a way that affects its stability.”
The revenues of the Egyptian Suez Canal Authority declined during the fiscal year 2023/2024, as a result of it being severely affected by the repercussions of the events in the Red Sea.
