The United Nations (UN) has forecasted that the Egyptian economy could lose about $20 billion during the current and upcoming fiscal years (FYs) 2023/2024 and 2024/2025 if the ongoing conflict in Gaza escalates further, Asharq Business reported, citing a recent study released by the UN.

Under the least severe scenario, the projected cost to the Egyptian economy would decrease to $5.6 billion for the current and the upcoming FYs.

The study highlighted tourism revenues and the Suez Canal as the primary areas likely to be adversely affected.

In the worst-case scenario, these sectors could see a combined decrease of approximately $14 billion.

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