Egypt expects Suez Canal revenues to hit $7b by end of fiscal year
Tourism revenues are expected to reach between $10b and $12b by then, said the minister
Image Credit: Supplied
Cairo: 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.