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Suez Canal Revenues Set To Reach $7 Billion By End Of Fiscal Year 

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

Suez Canal Revenues Set To Reach $7 Billion By End Of Fiscal Year 

Reuters
Total Views: 756
May 21, 2022
Reuters

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.

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