President Abdel Fattah El-Sisi revealed that Egypt is losing approximately $800 million per month in Suez Canal revenues due to regional conditions, during his speech at the annual Iftar hosted by the Armed Forces, coinciding with the anniversary of the 10th of Ramadan Victory and Martyrs and Veterans Day.

The president stated that Egypt has managed to move forward with steady and well-planned steps despite the challenges it has faced over the past 15 years, including global economic crises.

However, he emphasized that Egypt’s economy is showing positive indicators, highlighting the recent approval by the International Monetary Fund (IMF) to release a new tranche of funding for the country.

He praised the resilience of the Egyptian people and the strength of the state’s institutions, particularly the Armed Forces and the Civil Police, which he described as the backbone of the nation in these exceptional times.

Presidential spokesperson Ambassador Mohamed El-Shinawy conveyed the President’s message of reassurance to the Egyptian people, acknowledging their concerns over current events.

 He noted that this concern reflects their national responsibility and commitment to the country’s stability.

He urged for intensified efforts to continue advancing and developing Egyptian society through well-planned steps.