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The economic crunch due to the ongoing Middle East war is reverberating across the region, with Egypt announcing it will slow down large state projects involving high fuel and diesel consumption for two months to rationalise consumption, Al Jazeera.
This comes as the conflict has driven up energy costs and strained public finances.
Egypt’s debt servicing costs are set to rise by 5 per cent in the next fiscal year, Finance Minister Ahmed Kouchouk has said.
