He confirmed that the Egyptian economy is performing well despite all the conditions in the region.

Sisi inspects Suez Canal facilities

El-Sisi.. We lost about $9 billion in Suez Canal revenues in two years

President Abdel Fattah El-Sisi said that the Egyptian state has lost about $9 billion in Suez Canal revenues over the course of two years. El-Sisi added that the Egyptian economy is performing well despite all the geopolitical conditions in the region. He pointed out that the region is currently at a crossroads, and that sound assessments of the situation are necessary to understand the importance of preserving the state.

He continued, "We are working hard to stop the war in Gaza and to allow aid in, but I would not bet against the lives of Egyptians to forcefully bring in aid." It is noteworthy that Suez Canal revenues increased 11% in July, reaching $359 million, compared to about $323 million in the same month last year, according to data from the Central Agency for Public Mobilization and Statistics.

The number of ships passing through the canal increased by 0.8% to 1,055 ships, compared to 1,047 ships. The throughput increased by 6.8% to 44.9 million tons, compared to 42 million tons in July 2024. At the end of last August, Egyptian Finance Minister Ahmed Kouchouk stated that Egypt lost EGP 145 billion in Suez Canal revenues in the 2024-25 fiscal year due to the Red Sea unrest.

Kouchouk added in a press conference that his country was able to manage public finances flexibly through cooperation and coordination with various entities to confront challenges and meet citizens' needs. Kouchouk indicated that Egypt's real GDP growth reached 4.5% in the 2024-25 fiscal year. The minister continued, "Egypt plans to issue three or four international bonds during the current fiscal year."