Last Update 11:38
Monday, 17 December 2018

Egypt's Suez canal reports record high $5.585 billion annual revenue

Reuters , Sunday 17 Jun 2018
Suez Canal
File Photo: People sail on a boat near a container ship crossing the Gulf of Suez towards the Red Sea before entering the Suez Canal, near El Ain El Sokhna in Suez, east of Cairo, Egypt, March 17, 2018. Picture taken March 17, 2018 (Photo: Reuters)
Share/Bookmark
Views: 4412
Share/Bookmark
Views: 4412

Egypt's revenue from the Suez Canal for the 2017-2018 financial year rose 11.5 percent to a record high $5.585 billion (4.20 billion pounds), the canal authority said in a statement on its website on Sunday.

Revenue a year earlier was $5.008 billion, it said.

Egypt's fiscal year runs from July 1 to the end of June.

The authoriy announced on Saturday increased revenue in May, and predicted a record yearly figure, attributing this to increased international trade and improvements in the shipping industry.

Egypt under President Abdel-Fattah El-Sisi invested in an expansion of the Suez Canal which began in 2014. 

*This story was edited by Ahram Online

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.