Egypt Expects Suez Canal Annual Revenues to Hit $7 Billion

May 22, 2022

© Val Traveller / Adobe Stock
© Val Traveller / Adobe Stock

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)

Logistics News

Great Lakes Limestone Trade Up in June

Great Lakes Limestone Trade Up in June

Consilium Safety Group Appoints New Chairman of the Board

Consilium Safety Group Appoints New Chairman of the Board

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

AAL Shipping Unveils Sixth Heavy Lift Super B-Class Vessel

MDL Leases Land for Peterhead Offshore Project Support Site

MDL Leases Land for Peterhead Offshore Project Support Site

Subscribe for Maritime Logistics Professional E‑News

Heatwave in Europe forces France to close schools and Italy to limit outdoor work
US sources claim that Iran has made preparations for the mining of the Strait of Hormuz.
Qantas Australia confirms cyber attack at customer contact center, data exposed