Egypt Expects Suez Canal Revenue to More Than Double in 4 Years - Bloomberg

Egypt Expects Suez Canal Revenue to More Than Double in 4 Years - Bloomberg:



"Egypt expects revenue from the Suez Canal to more than double within the coming four years to more than $13 billion annually as it expands the waterway, Finance Minister Hany Kadry Dimian said.



The expected jump in revenue from about $5.5 billion now will be used in part to pay interest on investment certificates planned to finance the expansion of the canal, the minister said in a statement today.



President Abdel-Fattah El-Sisi announced a 60 billion Egyptian-pound ($8.4 billion) project that includes building a new channel parallel to the canal, as part of efforts to revive the economy after three years of political turmoil."



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