Suez Canal's Revenues Up in FY2022-23

Suez Canal Authority has announced that its revenue for FY2022/2023 surged 34% to hit US$9.4 billion from US$7 billion. The number of ships that crossed the Suez Canal rose by 17.6% recording 26,000, compared to the previous fiscal year, said the Chairman of the Suez Canal Authority Osama Rabie after his briefing to Egyptian President Abdel Fatah Al Sisi on the performance of the international waterway, reported Egypt Today.

With a steady increase in the number of ships crossing the Suez canal, the revenue is projected to hit US$10.3 billion by the year-end, it added.