Suez Canal revenues surge by 3.6 per cent

Suez Canal revenues surge by 3.6 per cent
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Published August 1st, 2012 - 12:23 GMT via SyndiGate.info

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Revenue from Egypt’s Suez Canal rose 3.6 per cent in the financial year 2011/2012, ended 30 June, from a year earlier to $5.2 billion, the Suez Canal Authority said.

The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.

The Suez Canal Authority raised toll fees for all vessels passing through the strategic waterway by three per cent from March this year.

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