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Egypt's stumbling economy faces new pressures from Gaza crisis
![IndiaTimes]()
Friday, 10 November 2023
Egypt's struggling economy is facing new risks due to the war in Gaza, which could disrupt tourism bookings and natural gas imports. The country, which heavily relies on inflows of short-term portfolio investment, tourism revenues, and remittances, is vulnerable to shocks. The tourism sector, which had been a bright spot, is expected to be affected, although the impact is currently contained to under 10% of bookings. Furthermore, disruption to natural gas imports from Israel is also a potential drain on foreign currency.
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Friday, 10 November 2023
