Egypt Expects Suez Canal Annual Revenues to Hit $7 Billion

Sunday, May 22, 2022

Egypt expects the Suez Canal's revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday.

Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt's fiscal year runs from July 1 to June 30.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency.


(Reuters - Reporting by Ahmed Ismail, Writing by Moataz Mohamed, Editing by Andrew Heavens)


Related Stories

Argentina Grain Exports Rise From Strong Harvest

GT Wings Establishes Manufacturing Partnership with Zunsion Technology for AirWing Production

CK Hutchison Banks 7% Profit Rise

Current News

Argentina Grain Exports Rise From Strong Harvest

Tanker Bound for Cuba with Fuel Cargo Diverts to Trinidad

Independent Port Consultants Announces New Hires

US Crude Being Shipped to Asia Via Panama Canal

Subscribe for Maritime Logistics Professional E‑News