CAIRO – 26 April 2026: President Abdel Fattah El-Sisi affirmed that Egypt remains committed to advancing its development agenda without interruption, even as the country and the wider region continue to face a series of complex challenges over the past decade.
He pointed out that these pressures have ranged from the fight against terrorism to the global impact of the COVID-19 pandemic, followed by the Russia–Ukraine conflict, the war in Gaza, and more recently escalating tensions involving Iran, each carrying significant economic and security consequences.
El-Sisi revealed that Egypt has lost nearly $10 billion in Suez Canal revenues due to attacks on commercial vessels in the Bab el-Mandeb Strait, describing the disruption as a major strain on national income. He also noted additional burdens resulting from hosting close to 10 million foreign nationals, alongside the sharp rise in global food and energy prices.
The President stressed that the government is fully aware of the financial pressures facing citizens and is mobilizing all available tools and resources to reduce the impact on households while continuing to strengthen the country’s economic resilience.
He added that the Middle East is passing through a sensitive and defining period, warning of coordinated efforts aimed at reshaping the region under extremist ideological narratives.
El-Sisi concluded by underscoring Egypt’s belief that the region’s future should be built on cooperation, reconstruction, and peaceful development, not conflict and destruction—as the only sustainable path to long-term stability.
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