An explosion in the rate of ship transit through the Suez Canal and Egyptian tourism revenues soar

https://www.youtube.com/watch?v=_qicB7unPtk

New Egyptian affairs and the Egyptian economy are presented by this episode of Samari TV.

And starting with the Panama Canal, whose administration said that the lack of rainfall over the canal caused it to enter a state of drought, forcing giant transit containers to wait at the entrance, at a material loss that could reach $200 million. The episode stresses the excellent opportunity provided for the Suez Canal as a result of the problems of its counterpart in Panama to obtain revenues from containers that are forced to abandon the Panama Canal and search for alternative ways to deliver their goods.

In a parallel context, the episode refers to the competition that Egypt has to wage against the railway that Israel intends to build in partnership with the Arab Gulf states to acquire the share of the Suez Canal from the transit trade from Asia to Europe.

On the other hand, the Egyptian Ministry of Supply and Internal Trade announced that it had obtained a loan of $500 million to buy wheat from the Emirati company, Al Dahra, which owns 116,000 feddans in Egypt, of which 70,000 feddans are allocated for wheat in the areas of East Owainat and Toshka. The UAE financing is a new step by the Egyptian government to provide its needs of the basic commodity, of which Egypt is the largest importer globally.

Finally, after several positive reports on the Egyptian economy, the optimistic view of the Egyptian economy was reversed by Citigroup Bank, which said that the Egyptian government's inability to implement the offering program so far reduces the chances of improvement in the general state of the economy and the local currency. Moody's had postponed Egypt's credit rating pending the economic reforms that the Egyptian government intends to implement in response to the International Monetary Fund's program.

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