Egyptian Finance Minister Mohamed Maait said that part of the impact of the attacks in the Red Sea could be absorbed on the Suez Canal's revenues.
Minister praised he is aAs for the previous increase, which according to his expression, was well before the events began.
Speaking on the sidelines of the World Government Summit in Dubai, Maite said the government plans to rely more on the private sector when it comes to spending on projects.
12% to 15% of global trade and 25% to 30% of container traffic pass through the Suez Canal.
According to the announcement of the United Nations Organization for Trade and Development (UNCTAD), trade volumes through the Suez Canal have decreased by 45% during the last months of December and November due to Houthi attacks in the Red Sea.
UNCTAD official Jan Hoffmann said last January that trade disruption in the Red Sea raises concerns, given that more than 80% of global trade in goods moves by sea and because “other important routes are also under pressure. “