Suez Canal revenues fell by 50% – Kommersant
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Due to Houthi attacks on ships in the Red Sea, revenues of the Suez Canal have already fallen by 50%, said Egyptian Finance Minister Mohammed Maait. Egypt aims to achieve a GDP surplus of 3.5% during the next fiscal year, he said.
During the American Chamber of Commerce conference, Mr. Maait said the government was committed to flexibility in the exchange rate and in market supply and demand. The Egyptian government is developing a plan to pay off oil and gas debt, and also expects to implement several transactions worth up to $3.5 billion, the TV channel reports. Sada El Balad.
The Houthis support the Palestinian movement Hamas, which has been fighting Israel since October 2023. Since December, the Houthis have regularly attacked ships in the Red Sea. In response, the United States and its allies have been striking Houthi positions in Yemen since mid-January. Bloomberg agency reportedthat Russian tankers began to avoid the Suez Canal. At the end of February the Houthis damaged four undersea cables in the Red Sea, leading to disruptions in Internet communications between Europe and Asia.
About the development of the conflict – in the material “Kommersant” “Joe Biden is being persuaded to put pressure on Israel”.
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