Shipping containers are seen on a ship, belonging to Ocean Network Express (ONE), moving through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany
CAIRO May 21 (Reuters) – 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.
Reporting by Ahmed Ismail, Writing by Moataz Mohamed, Editing by Andrew Heavens
(c) Copyright Thomson Reuters 2022.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,099 members that receive our newsletter.
Have a news tip? Let us know.
A rapidly intensifying weather system, known as a “bomb cyclone,” has developed off the U.S. West Coast, creating perilous conditions for mariners and coastal communities in the Pacific Northwest. The...
The long-awaited MV Glen Sannox, under construction at Scotland’s Ferguson Marine shipyard, has officially received regulatory approval to carry passengers. The Maritime and Coastguard Agency (MCA) and Lloyd’s Register have issued...
New EU and British sanctions are based on false claims of missile transfers to Russia and are "unjustified," Iran Foreign Ministry spokesperson Esmaeil Baghaei said on Tuesday.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,099 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
