Shipping in the Suez Canal. (Photo: Mariusz Bugno/Shutterstock)
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.
