Egypt economy to rebound after inauguration of new canal

The inauguration of the New Suez Canal and the start of development projects along its corridor will help the Egyptian economy rebound, minister of transitional justice and parliamentary affairs has said.

In a statement by the Transitional Justice Ministry on Friday, Ibrahim Heneidi expressed happiness for the "international celebration" that marked the inauguration of the new canal.

The celebration became a historic event after leaders and delegations of world countries took part in it, the minister said.

Egyptians of different political and partisan orientations deserve to rejoice after such mega project was finalized, Henedi added.

He expressed appreciation for President Abdel Fattah El Sisi, the Armed Forces, Chairman of the Suez Canal Authority Mohab Mamish and all people who contributed to implementing the project.

Heneidi also expressed appreciation for and respect to the Egyptian people who partook in celebrations across the country and funded the project as well.

Sisi inaugurated Thursday the New Suez Canal in a great celebration attended by world leaders.

The new 72-kilometer waterway, dug in less than a year at a cost of 60 billion pounds, runs part of the way alongside the existing canal connecting the Red Sea and the Mediterranean.

The legendary project was financed by investment certificates sold to Egyptians.
Source: MENA