Egypt's Finance Minister Mohamed Maait said part of the impact on Suez Canal revenue of the Red Sea attacks on vessels could be absorbed, thanks to previous growth which had been doing well before the incidents started.

Maait said the government was planning to rely more on the private sector in terms of project expenditure, adding: "If you look at (project spending) figures for the last 7 months, it has dropped by 10 percent," he told Reuters on the sidelines of the World Governments Summit in Dubai.