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.
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