Egypt’s S. Canal revenue may partially offset Red Sea attacks impact – Maait

Some of the damage caused by the Red Sea attacks on ships to Suez Canal revenue could be offset by prior growth that was strong even before the attacks started, Mohamed Maait, Egypt’s Finance Minister stated.

In terms of project expenditure, Maait stated that the government intended to depend more on the private sector.

“If you look at (project spending) figures for the last 7 months, it has dropped by 10%,” he told Reuters on the sidelines of the World Governments Summit in Dubai.