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Egypt expects Suez Canal tourism revenues to spike by end of fiscal year
Updated on: May 21, 2022, 20:11:30 IST
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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.
