PARIS: President Hosni Mubarak warned Wednesday that his country faces a drop in revenues from tourism and Suez Canal transit fees as a result of the world financial crisis.
Speaking in Paris after a working lunch with his French counterpart Nicolas Sarkozy, Mubarak said Egypt was better placed than some countries to weather the economic storm but he was nevertheless concerned.
We risk problems with our imports, and also with revenue from tourism and revenue from the Suez Canal, he said. Egypt charges vessels using the Suez route between the Indian Ocean and the Mediterranean a transit fee.
Mubarak and Sarkozy discussed the world economic situation and preparations for next month s Washington summit of the G20 group of wealthy and emerging nations, of which Egypt is not a member, French officials said. -AFP
