Suez Canal breaks records, transfers EGP 74 bln to state treasury

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Sun, 09 Jun 2019 - 08:28 GMT

A ship transiting through the Suez Canal - Photo courtesy of SCA

A ship transiting through the Suez Canal - Photo courtesy of SCA

CAIRO - 9 June 2019: The Finance Ministry said Saturday the Suez Canal Authority has provided the state treasury with EGP 74 billion in the 2018/2019 fiscal year.

The figure is historically the highest, the ministry added in a statement.

It does not include operating and maintenance expenses, financing investment plans, expansions and many projects serving the national economy, the statement read.

The total revenues have recorded a remarkable increase, reaching EGP 104.2 billion in the 2018/2019 fiscal year, compared to EGP 74.2 billion two years ago, with a growth rate of 40.4 percent.

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