Egypt announces the contribution of the Suez Canal to the budget
20:09 - 12/04/2019
Information / Baghdad ..
Egyptian Finance Minister Mohamed Meit said on Friday that the Suez Canal contributes about 4 billion dollars in the state budget for 2018-2019.
"The Suez Canal has contributed more than $ 4 billion in the budget for this fiscal year," he said.
Suez Canal revenues at the beginning of this year were 3.6 percent higher than in the same period last year.
The Suez Canal is the fastest shipping route between Europe and Asia and a major source of hard currency in Egypt.
The Egyptian channel, which is 192 kilometers long, shortens the flight time between Asia and Europe by about 15 days on average.
"Currently, 13 new cities are being built outside the new administrative capital in Egypt," he said.
The new administrative capital is an ambitious plan to create a city 45 kilometers east of Cairo. It was announced in March 2015 during an economic summit held in Sharm el-Sheikh