00:00The war in the Middle East has pushed Egypt to an economic state of near emergency.
00:06That was the warning on Thursday from President Abdel Fattah al-Sisi
00:10over fears of runaway inflation in the import-dependent country.
00:15The conflict between the US, Israel and Iran has seen strikes on Egypt's Gulf allies
00:21and paralysed trade through the Strait of Hormuz.
00:24The conflict could also spell trouble for the Suez Canal, a vital waterway for Egypt and key source of foreign
00:32currency.
00:33The Egyptian pound fell to an eight-month low against the US dollar at close of business on Thursday.
00:40al-Sisi warned that price-gouging traders could be tried in military courts, according to a statement from his spokesperson.
00:48al-Sisi said he was attempting mediation efforts to stop the war,
00:53but Iran has said it's not asking for a ceasefire or negotiations with the United States.
Comments