EGYPT Anticipatory note08 March 2024 The potential economic and humanitarian impacts of the escalating conflict in Gaza and tensions in the Red Sea OVERVIEW ABOUT THIS REPORT The latest political, economic, and conflict developments in the Middle East and North Africa Aim: region – from the conflict in Gaza to the Red Sea tensions – are likely to further deepen Egypt’s financial crisis. [...] potential for driving socioeconomic deterioration in Egypt and the level of humanitarian The partial blockade of the Red Sea by the de-facto authority (DFA) in the north of Yemen impact. [...] FACTORS AFFECTING EGYPT’S ECONOMY PRIOR TO THE CONFLICT IN GAZA AND Egypt has been receiving refugees from Syria since the start of the conflict in the country in THE RED SEA TENSIONS 2011. [...] Gaza’s geographical proximity to the Sinai Peninsula, and the Egypt had been dealing with power cuts before the conflict in Gaza, starting in the summer of consequent fear of insecurity resulting from the conflict’s possible spread or the infiltration 2023 (June–September), when high temperatures led to increased electricity consumption of armed groups, led to the cancellation of 25% of November 2. [...] Despite the efforts to eliminate the worst forms of child labour via the update to the National Strategy forecasted improvement between the second and fourth quarters of 2024, the continuing for Combating and Preventing Trafficking in Persons, child labour and exploitation remain an conflict in Gaza and the Red Sea tensions will likely prevent or, at least, slow down the issue.
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