Awareness study: Egypt’s petroleum exports fell by more than $7 billion

A recent research study revealed the collapse of the petroleum export sector in Egypt since 2013 in an unprecedented manner, in response to the collapse of the country’s dollar revenues, affected by the deteriorating political and security conditions, and the sharp decline in tourism revenues. The study, conducted by the Waa Foundation for Research and Development, said that petroleum exports in 2012, during the era of former President Mohamed Morsi, amounted to $13 billion, while during the era of President Abdel Fattah El-Sisi, they declined to $5.6 billion, a loss of $7.4 billion, or a 56% loss. The study also indicated an increase in Egypt’s debt to foreign oil companies since 2013, which ranges between $4 and $6 billion, depending on the government’s ability to pay its obligations and increase the debt again over time. The study was titled: (Egypt’s revolution between two paths, the revolutionary path and the counter-path, comparative models from the eras of Morsi and Sisi during the period from 2012-2016), and it deals with a follow-up comparison of the two paths: the revolutionary path and the anti-path through models from the eras of Morsi and Sisi that represent practical aspects of the outcomes of each path.