Egypt expects Suez Canal tourism revenues to spike by end of fiscal year
Reuters | | Posted by Zarafshan Shiraz, Cairo
May 21, 2022 08:11 PM IST
Egypt expects Suez Canal tourism revenues to reach between $10 billion and $12 billion by fiscal year end, despite the Ukrainian crisis. Egypt's fiscal year runs from July 1 to June 30.
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.This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.