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Home Logistics

Egypt expects Suez Canal revenues to hit US$7B by end of fiscal year

FurtherAfrica by FurtherAfrica
May 25, 2022
in Africa, Egypt, Logistics
Reading Time: 1 min read
0 0
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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 last week.

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.

Also read: Is Egypt in Africa or Asia?

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

Related

Source: Reuters
Tags: asiaEgyptEgypt expects Suez Canal revenues to hit US$7B by end of fiscal yearEuropefiscal yearforeign currencylogisticsMohamed MaaitSuez canalЕгипетمصرエジプト埃及
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