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Suez Canal to Achieve Revenues of USD 5.6 by June
Source: 6/4/2018

Finance Minister Amr el Garhi asserted that the Suez Canal achieved revenues of about USD 5.1 billion until May, with expectations to hit USD 5.6 billion by June 30, 2018.

Also, the Suez Canal is predicted to register revenues by 11 to 12% in the upcoming fiscal year, the minister said during his speech at a Parliament session to debate the 2018/19 state budget.

El Garhi remarks came in response to a question raised by a number of MPs about losses of about EGP 13 billion sustained by some economic bodies.

Also, he talked about the progressive tax system which is applied in Egypt, citing annual income-tax exemptions, which are divided into tranches ranging from EGP 7,200 to 200,000.

Related Categories: Accounting, Statistics  Economics/Financial Analysis  General  Insurance 

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