The Cabinet Media Center issued a statement on Tuesday clarifying reports attributed to Prime Minister Mostafa Madbouly about monthly losses of around 500 million dollars in the Suez Canal and linking them to a rejected proposal to sell or swap the canal against government debt.
The center explained that the remarks being circulated are misleading and taken out of context, noting they date back to 2024 when the Prime Minister addressed journalists after a temporary decline in canal traffic due to regional instability and rerouting of shipping lines.
It stressed that re‑circulating the statement now, in connection with a rejected proposal to transfer state assets to the Central Bank in exchange for debt settlement, distorts its meaning. The government had studied such ideas as part of debt management options but concluded they were unsuitable and did not adopt them.
The Cabinet reaffirmed that the Suez Canal is not subject to any such proposals, nor is there any intention to sell, mortgage or transfer its ownership. It described the canal as a strategic public facility directly tied to Egypt’s national security, sovereignty, economy and global trade.
The Media Center urged accuracy and reliance on official sources, warning against false information spread on social media.
