Furthermore, on January 30th, it was reported that Egypt's tourism revenues for the year 2023 increased by 8% compared to the previous year, reaching a total of $13.2 billion.
Former official highlights Ras El Hekma project's role as a game-changer in Egypt's development landscape.
The minister also highlighted a reduction in the Supreme Council of Antiquities' debt to the state's general budget. The debt has decreased by EGP 1 billion during the current fiscal year, compared to EGP 8 billion at the end of June 2022
Ras El Hikma is one of several locations earmarked by the government’s comprehensive urban development plan for the North Coast
El Sisi pointed out that one of the main reasons for the foreign currency shortage is because the government pays to provide basic services and commodities in USD while they are sold in the local market in EGP
