14 direct benefits for Egyptian economy due to Suez Canal projects

It is expected that the Suez Canal Axis development projects will have 14 direct benefits on the Egyptian economy, in addition to political benefits, said Ezz El-Din Hassanin, a banking and economy expert.

Hassanin said that the Suez Canal is Egypt’s gate to the future and to internationality, both politically and economically. It is the key to convert Egypt from a developing country into an “economic tiger”.

According to an expanded study by Hassanin, among the project’s most important economic benefits are the projects to be established in the zone, which can potentially generate approximately $150bn annually. The projects will also contribute to increasing Egypt’s gross domestic product (GDP).