Egyptian President Abdel Fattah al-Sisi said on Sunday that regional conflicts have caused a $10bn loss in Suez Canal revenues, describing recent domestic fuel price increases as an “inevitable” measure to protect the national economy. He explained that the country consumes approximately $20bn (EGP 1tn) of petroleum products annually, the majority of which is used to fuel power plants. If the government charged citizens the true cost of production, electricity bills would increase fourfold, the President added. In response to domestic economic strain, Sisi directed the government to accelerate the launch of a new social protection package targeting low- and middle-income groups. Sisi also noted “positive progress” in recent television dramas and artistic works, calling for content that reflects Egypt’s cultural values and contributes to national awareness.

Source: Daily News Egypt March 14, 2026 22:48 UTC