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.