Egypt expects Suez Canal tourism revenues to spike by finish of fiscal yr

Egypt expects Suez Canal tourism revenues to succeed in between $10 billion and $12 billion by fiscal yr finish, regardless of the Ukrainian disaster. Egypt’s fiscal yr runs from July 1 to June 30.

Reuters | | Posted by Zarafshan Shiraz, Cairo

Egypt expects the Suez Canal’s revenues to succeed in about $7 billion by the tip of the present fiscal yr, finance minister Mohamed Maait mentioned on Saturday.

Tourism revenues are anticipated to succeed in between $10 billion and $12 billion by then, regardless of the Ukrainian disaster, he added. Egypt’s fiscal yr runs from July 1 to June 30.

The canal is the quickest delivery route between Europe and Asia and one of many Egyptian authorities’s primary sources of overseas foreign money. 

This story has been revealed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.

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