Osama Rabie, Chairman of the Suez Canal Authority, said that Suez Canal revenues amounted to $4.67 billion (230.22 billion pounds) in the fiscal year 2025/2026, an increase of 23% over the previous fiscal year. male In an interview with Ahmed Moussa on the Sada El Balad program on Sunday, June 28. Rabie briefed President Abdel Fattah El-Sisi in a separate session interview Same day.
During the meeting, Rabie and Sisi discussed recent developments related to the production of twelve new and advanced “REZK” deep-sea fishing vessels. These ships will be designed for fishing on the high seas Made in Egypt. The President also reviewed the construction of new fiberglass boats, including the completion of the hulls for three cruises, to support Nile tourism and marine tourism.
The increase in Suez Canal revenues indicates a decline in regional tensions, including recent tensions Decline in hostilities Between Iran and the United States.
Due to regional tensions in 2024, specifically in the Red Sea and Bab al-Mandab, Suez Canal revenues It fell to $3.9 billion (192.28 billion pounds). Shipping in the area was noticeably higher It was disrupted due to Houthi raids On Israeli ships in the Red Sea that year, amid the Israeli war on Gaza. Channel A witnessed 50 percent decrease in the number of ships in the same year 2024, with shipping traffic decreasing by 64.4 percent.
The channel’s revenues in 2023 have previously reached A record $9.4 billion (463.45 billion pounds), despite the disruptions caused by the Covid-19 pandemic and the Russian invasion of Ukraine in previous years.
Channel revenue is integral part For the Egyptian economy, especially as a source of foreign currency. According to SCAFrom 2019 to 2024, the canal generated revenues worth US$40 billion for the Egyptian economy.
Last year, in a Meeting with the International Monetary Fund delegationRabie outlined the expected revenues of the Securities and Commodities Authority for the coming fiscal years. Expectations The Securities and Commodities Authority showed that revenues improved in the fiscal year 2027/2028 by about $10 billion (493 billion pounds).