Suez Canal adds LE 41.29B to Egypt's treasury in 6 months

CAIRO - 8 March 2023: Official data revealed an increase in the public treasury’s revenues from the Suez Canal during the first half of the current fiscal year, by 42.3 percent, on an annual basis.

 

The monthly report of the Ministry of Finance on the performance of the budget indicated that the Suez Canal revenues for the public treasury (taxed and non-taxed) amounted to LE 41.29 billion during the period from July to the end of last December, compared to LE 29.01 billion during the same period of the previous fiscal year.

 

Egypt's revenues from the tax on the profits of the Suez Canal amounted to about LE 23.97 billion during (July-December 2022), compared to LE 14.4 billion during the same period of the previous fiscal year.

 

While the profits of the public treasury from the Suez Canal - non-tax revenues - rose to LE 17.32 billion during the first six months of the current fiscal year, compared to LE 14.61 billion during the same period of the previous fiscal year.

 

Egypt's revenues rose to LE 572.55 billion during the period from July to the end of last December, compared to LE 499.63 billion pounds during the comparative period of the previous fiscal year.

 

Tax revenues rose during the six months to LE 461.76 billion, compared to LE 386.85 billion in the same period of the last fiscal year.

 

On the other hand, the non-tax revenues declined during the first half of the current fiscal year to LE 110.78 billion, compared to LE 112.78 billion in the same period of the last fiscal year.