Part 7/11:
Reports indicate a staggering escalation in the project's budget. Initial estimates in 2015 projected costs of $45 billion, which have now soared to approximately $58 billion. Compounding these financial imbalances, external factors such as the war in Ukraine have resulted in increased construction costs, straining an already burdened economy.
Despite past construction successes, like the Suez Canal expansion, the anticipated revenue from such ventures has fallen short. Currently, a significant gap exists between government projections for revenue generation and actual earnings, amplifying concerns about Egypt’s financial capacity to sustain this new capital project.