Egypt’s Suez Canal Revenue Rises 3.6 Pct In 2011-12

Revenue from Egypt’s Suez Canal rose 3.6 percent in the financial year 2011/2012, ended June 30, from a year earlier to $5.2 billion, the Suez Canal Authority said on Wednesday.

The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.

The Suez Canal Authority raised toll fees for all vessels passing through the strategic waterway by 3 percent from March this year.

Reuters