All employees in Suez Canal Authority are Egyptians: Admiral Rabie

CAIRO – 12 August 2023: All employees in the Suez Canal Authority (SCA) are Egyptians not foreigners since the nationalization of the canal in 1956, said Admiral Osama Rabie, head of the Suez Canal Authority in a statement the Cabinet Information Center, on Saturday.

The International maritime navigation is totally secured by the Egyptian armed forces, the admiral added.

He noted that the Russian-Ukrainian war has no impact on the trade movement, and this is an indication of the important role of the canal as a major trade corridor globally.

The annual revenues of the SCA are at an all-time high, amounting to $9.4 billion during the 2022/2023 fiscal year, announced SCA chief Admiral Osama Rabie in a press conference on June 21, 2023.

In recent years, the Suez Canal has achieved unprecedented rates that broke all levels, especially those that followed the digging of the new Suez Canal.

The canal was able to overcome the fluctuations in the global economy after the Corona pandemic and the repercussions of the Russian-Ukrainian war.

The Central Agency for Public Mobilization and Statistics monitored the development of the Suez Canal revenues in the last ten years, as the value of the Suez Canal revenues amounted to 50.9 billion dollars.

The order of revenue is as follows:

• 5.37 billion dollars in 2013/2014.

• $5.36 billion in 2014/2015, a decrease of 0.1%.

• $5.1 billion in 2015/2016, a decrease of 4.5%.

• $4.9 billion in 2016/2017, a decrease of 3.4%.

• $5.7 billion in 2017/2018, an increase of 15.4%.

• $5.7 billion in 2018/2019, an increase of 0.4%.

• $5.8 billion in 2019/2020, an increase of 1.3%.

• $5.9 billion in 2020/2021, an increase of 1.8%.

• $7 billion in 2021/2022, an increase of 18.4% (a record).