IDSC: Suez Canal Revenue Steadily Rising

The Information and Decision Support Center of the Egyptian Cabinet (IDSC) said the revenue generated by the Suez Canal has been steadily increasing.

According to a new report recently issued by IDSC, the international waterway, which is a significant source of hard currency for Egypt, has achieved new milestones and records over the last ten years.

This is good news for the Egyptian economy as it ensures a steady influx of hard currency which supports the country's dollar resources. Additionally, the Suez Canal is considered to be one of the safest and most efficient canals in the world, IDSC noted.

Suez Canal revenues hit a record $2.3 billion in Q1 of 2023, Suez Canal Authority stated in April.