Egypt expects Suez Canal revenues to hit $7B by end of fiscal year
A view shows the container ship Ever Given, one of the world's largest container ships, after it was partially refloated, in Suez Canal, Egypt March 29, 2021. Suez Canal Authority/Handout via 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 1 July to 30 June.
The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency.
