$1.7 billion in income from Suez Canal in 1998
Egypt, Economics, 6/25/1999

Ahmed Fadel, head of Suez Canal organization, said the canal's income for 1998 decreased to $1.7 billion, despite an 11% increase in the containers crossing through the canal.

The canal's income reached $2 billion dollar in 1997.

Fadel related this decrease in income is due in part to the economic crisis that effected countries of southeast Asia.

Fadel denied that the canal will be affected by the project to establish a similar canal in Israel, saying that the Israeli idea will be economically futile.

Previous Stories:
  Suez Canal a world conference for navigation   (6/15/1999)
  International offers for establishing a tunnel under Suez Canal   (4/29/1999)
  Israel threatens Egypt's income from Suez Canal and Sumid petroleum pipeline   (4/5/1999)

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