Red Sea attacks' impact on Suez Canal revenue can be partly absorbed, says Egypt's finance minister

Middle East News
2024-02-11 | 03:17
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Red Sea attacks' impact on Suez Canal revenue can be partly absorbed, says Egypt's finance minister
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Red Sea attacks' impact on Suez Canal revenue can be partly absorbed, says Egypt's finance minister

Egypt's Finance Minister Mohamed Maait said part of the impact on Suez Canal revenue of the Red Sea attacks on vessels could be absorbed, thanks to previous growth which had been doing well before the incidents started.

Maait said the government was planning to rely more on the private sector in terms of project expenditure, adding: "If you look at (project spending) figures for the last 7 months, it has dropped by 10 percent," he told Reuters on the sidelines of the World Governments Summit in Dubai.

Reuters
 

Middle East News

Egypt

Finance Minister

Mohamed Maait

Suez Canal

Red Sea

World Governments Summit

Dubai

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