© Reuters. FILE PHOTO: A shipping container passes through the Suez Canal in Suez, Egypt February 15, 2022. Photo taken February 15, 2022. REUTERS / Mohamed Abd El Ghany
CAIRO (Reuters) – Egypt expects the Suez Canal’s revenue to reach about $ 7 billion by the end of the current fiscal year, Finance Minister Mohamed Maaait said on Saturday.
Tourism revenues are expected to reach between $ 10 and $ 12 billion by that time, 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 exchange.