![Shipping in the Suez Canal.](https://images.jfeed.com/cdn-cgi/image/format=jpeg,fit=contain,width=900/2024/01/29/5e2f6630-bea5-11ee-8c05-7fe1aa7dfba1__h3981_w5963.jpg)
The decline in shipping via the Red Sea and the Suez Canal due to Houthi attacks on shipping near Yemen has started to hit Egyptian toll revenues, which amount to 2% of its GDP, and Egypt is searching for ways to cope with the problem, according to reporting by Globes.
Egypt has thus far tried two approaches: they have raised toll rates 5-15%, and they have also reportedly asked Houthi rebels to only target Israeli ships.