CESCE, Country Risk
The Suez Canal Authority (SCA) estimates that revenues obtained in the current fiscal year (ends June 30) will grow by 35% year-on-year, to $9.400 billion, well above than initially planned.
![[Img # 53201]](https://empresaexterior.com/upload/images/06_2023/4925_canal-de-suez_cr.jpg)
It is, therefore, aboutthe highest figure in the historical series, driven by the simultaneous increase in fees and the number of vessels (25.887 in the last year).
Since 2015, the SCA has undertaken successive expansions of the maritime infrastructure to allow traffic in both directions and accept larger tonnage vessels.
The 37-kilometer extension of the original canal and the construction of branches have also allowed navigation time to be reduced from 18 to 11 hours. The good performance of the Suez Canal activity – the third source of foreign currency in Egypt– represents an important boost of oxygen to reinforce the volume of reserves, currently around 3 months of imports, just above the recommended minimum.
Source: CESCE
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