Did Egypt sell Suez Canal for trillion dollars?

MENA

Published: 2024-07-13 16:45

Last Updated: 2024-07-14 09:54


Suez Canal.
Suez Canal.

A circulating audio clip on Egyptian social media claimed the government intended to sell the Suez Canal for a trillion dollars.

The Egyptian Cabinet's media center contacted the Suez Canal Authority, which denied these rumors. They confirmed no plans to sell the canal, emphasizing the audio clip was fabricated and the information false.

The government stressed the Suez Canal remains fully owned by Egypt, under its sovereignty for management, operation, and maintenance. All employees of the canal, including technicians and administrators, are Egyptian citizens, ensuring its operations remain under Egyptian control.

The media center highlighted Article 43 of the Egyptian Constitution, which mandates state protection and development of the Suez Canal as a nationally owned international waterway. The article also commits to developing the canal sector as a distinctive economic hub.