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Suez Canal revenues fall in 1998
Egypt, Business, 12/31/1998
During the first 11 months of the current year, revenues from the Suez Canal decreased to $1.62 billion, as about 12,356 vessels weighing 353 million tonnes have crossed through the canal.
The revenues fell by 2.1% compared to the same period last year.
This was attributed to the deterioration of petroleum prices and the increase of competition from Raas Ragaa El-Saleh path for the canal.
The continuation of the current situation would threaten increasing the government budget deficit which depends on this income.
Previous Stories:
Cornerstone to be laid for biggest suspension bridge in Egypt
(12/22/1998)
Suez Canal's income decreases
(10/17/1998)
Ambitious Egyptian plan for developing the Suez Canal
(7/29/1998)
Fares of the Suez Canal without change in 1998
(1/2/1998)
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