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FINANCIAL NEWS
Egypt’s Suez Canal revenue up 4% in December
12 Jan 2013
(MENAFN) Official data showed that Egypt’s income from its Suez Canal increased by 4 percent in December compared to the previous month, Reuters reported, citing the state information portal.
The waterway is one of Egypt’s main sources of foreign currency, alongside tourism, oil and gas exports and remittances from Egyptians living abroad. It is also widely viewed as a barometer of world trade.
The official media said that the Suz Canal generated USD424.6 million last month, up from USD407.7 million in November. In December 2011 it was USD443.7 million.
Last year, the Suez Canal Authority raised toll fees for all vessels passing through the strategic waterway by 3 percent starting March 2012, saying tariffs had not been changed for the previous three years.
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