Suez Canal revenue rises 3.6 pct in 2011-12
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This piece was written for Egypt Independent’s final weekly print edition, which was banned from going to press...
This piece was written for Egypt Independent’s final weekly print edition, which was banned from going to press....
Suez Canal revenue rises 3.6 pct in 2011-12
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Wed, 25/07/2012 - 17:27
Revenue from Egypt's Suez Canal rose 3.6 percent for the financial year 2011/2012, which ended June 30, as compared to last year, the Suez Canal Authority said on Wednesday.
The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.
The Suez Canal Authority raised toll fees for all vessels passing through the strategic waterway by 3 percent starting in March this year.
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