Suez Canal Revenue Rising
World Economy

Suez Canal Revenue Rising

Egypt President Abdel-Fattah al-Sisi took a defensive line on the Suez Canal. “I heard people say the revenues of the Suez Canal decreased. Of course not! They increased,” he insisted, Mena reported. Sisi’s statement appears to be an attempt to rebut widespread reports in local and global media that revenues from the Suez Canal declined by more than 5% in 2015. All numbers are political in Egypt, but Suez Canal tolls are especially so in the wake of the August 2015 launch of a much-hyped canal extension officials claimed would contribute to more than doubling Suez Canal revenue to $13.5 billion by 2023. Although the president dismissed reports of declining revenue as something “people say,” the fact that the dollar value of Suez Canal tolls was about $290 million less in 2015 than in 2014 is not exactly hearsay: The figure is available from the Suez Canal Authority itself, and the decline is reflected in central bank reports on Egypt’s balance of payments.


Short URL : http://goo.gl/NL1uNV
  1. http://goo.gl/INHBTX
  • http://goo.gl/mLzMD1
  • http://goo.gl/fiA4de
  • http://goo.gl/efzmuj
  • http://goo.gl/hVccF8

You can also read ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...