Suez Canal records highest ever annual revenue of $7 bn

Suez Canal records highest ever annual revenue of $7 bn

According to reports, Egypt earned more than $7 billion from the Suez Canal this year during 2021-22.

This is a new record for the Egyptian government. This annual income was about 21% higher than the previous year.

The head of the Suez Canal Authority says the record revenues to Cairo in the fiscal year ending June 30 are a major step forward.

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It should be noted that the Suez Canal is one of the most important national sources of foreign exchange earnings for Egypt. This waterway is the shortest and fastest way for shipping between Europe and Asia.