Egypt faces revenue drops from tourism, Suez Canal transit fees

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PARIS, Oct 30 (AFP): Egyptian President Hosni Mubarak warned yesterday 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.
While Mubarak played down the danger, tourism and the canal are the main pillars of the economy of Egypt, the Middle East's most populous country.