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

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.