ICEC

Egypt’s Suez Canal revenues likely to rise 14% at end-FY2017/18

Egypt’s Suez Canal revenues are likely to increase by 14 percent to reach $5.6 billion at the end of financial year 2017/2018, said Finance Minister Amr El Garhy on Monday.

El Garhy further added that the revenues grew to $5.1 billion during the first ten months of the current financial year, state-run news agency MENA reported.

The Central Bank of Egypt (CBE) had previously posted that Suez Canal generated revenues of $4.95 billion during the financial year 2016/2017.

The canal had reported a 5.4 percent increase in revenues in 2017, recording $5.3 billion.

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