Coronavirus: Egypt, Lebanon, Jordan suffer economic pain amid falling remittances (Middle East Eye) 

Middle East Eye published an article on what to expect for Middle East countries economically after COVID-19. Senior Research Fellow Clemens Breisinger stated that Egypt is expected to suffer lost revenues this year, particularly from tourism, which generated $12.6bn (4.2 percent of GDP) in 2018-19, and from the Suez Canal of $5.7bn (1.9 percent of GDP). But these are dwarfed by remittances, which contribute $25.2bn, or 8.4 percent of Egypt’s GDP. “In the more optimistic scenario, remittances in fiscal year 2019-20 will decline by 10 percent. The more pessimistic scenario is a 15 percent reduction.” (See the blogpost, Economic impact of COVID-19 on tourism and remittances: Insights from Egypt.