Egypt regretted the US' decision to cut aid to Egypt, the Foreign Ministry said in a statement on Wednesday.

It described the measure as a bad assessment of the nature of strategic relations binding the two states over long decades.

The decision reflects adopting a method that lacks meticulous understanding of the importance of backing stability in Egypt and rendering its experiment successful in view of the security and economic challenges besetting the country, added the statement.

The statement cautioned that the decision would have a ripple effect on the Egyptian-US interests.

The statement underlined the importance of ratifying the 2017 USAID program, urging the US administration to be fully aware of the importance of the program in serving joint interests and maintaining the strength of bilateral ties which are based on mutual respect. 

CNBC reported late Tuesday that the US State Department is withholding dlrs 195 million in military aid for Egypt and has completely withdrawn almost dlrs 96 million.

Source: MENA