Egyptian President Abdel Fattah al-Sisi said that owing to regional tensions Egypt is incurring monthly losses estimated at approximately US$800 million in Suez Canal revenues.
During the annual Iftar banquet of the Egyptian Armed Forces, Sisi said that Egypt has been able to move forward with steady and measured steps despite the challenges it has faced over the past 15 years, including global economic crises.
He reassured that the Egyptian economy is witnessing positive indicators, noting the recent approval by the International Monetary Fund (IMF) to disburse a new tranche to Egypt.
The president hailed the role of the Egyptian people, their cohesion, and the strength of state institutions, especially the armed forces and the civil police, which he called a fundamental pillar of the state during these exceptional times.
He sent a reassuring message to the Egyptian people, noting his awareness of the anxiety his citizens are experiencing due to current events.
The President affirmed that economic conditions have begun to improve thanks to the work of state institutions, and the efforts of the people.
Sisi emphasized the importance of intensifying efforts and moving forward to develop Egyptian society through well-considered steps.
He also called on raising future generations with authentic Egyptian values, emphasizing the essential role of the Egyptian media in this regard – alongside the role of the family, school, university, mosque, and church towards building a strong society – and ordered the government to aid in the media in this regard.
