MAR 28, 2024 JLM 66°F 11:28 PM 05:28 PM EST
In Egypt they found a way to raise revenues; Bad news for consumers

Egypt, which is suffering from a severe shortage of foreign exchange, has found a way to increase revenues. The Suez Canal Authority announced today that from January 1, transit fees will increase by 15%, except for cruise ships and bulk carriers, for which the fee will increase by 10%.

Egypt estimates that canal revenues will increase next year as a result of the toll increase by $700 million. The canal's revenues this year are expected to reach about 8 billion dollars

The increase in tolls in the canal means that the subsidiaries will ultimately pass on the cost to the consumers.

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Susan 23:41 18.09.2022
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