Egyptian Prime Minister Mostafa Madbouly revealed that regional and international geopolitical conditions have had a significant impact on Egypt's hard currency resources, and have been represented in the decline in Suez Canal revenues due to threats to navigation in the Red Sea, and the decline in the number of incoming tourism to Egypt due to regional tensions, and the ongoing (Israeli) war in the Gaza Strip.
Madbouly expressed his fear that events in the Middle East will escalate further, increasing the negative economic repercussions on the economy, especially with Egypt losing nearly seven billion dollars in less than a year, of the total annual revenues of the Suez Canal.
