Egypt: Rabie At Par’lt Session – Suez Canal Revenues to Hit 8 Billion Dollars By End of Current FY

Chairman of the Suez Canal Authority Osama Rabie asserted the authority achieved a tangible quantum leap in 2022 with the crossing of more than 23,000 ships with a 15% increase, compared to 21,700 vessels in 2021.

The canal’s revenues are expected to reach eight billion dollars by the end of the current Fiscal Year 2022/2023, added Rabie during the plenary session of the House of Representatives, led by Speaker Hanafi Gebali on Monday 19/12/2022.

The session probed the bill that was submitted by the government to amend some provisions of law no.30 of year 1975 on the Suez Canal’s statute.

Rabie added the philosophy of establishing the Fund of Suez Canal Authority is to achieve sustainability of the canal and face any emergencies, especially amid current crises.

MENA