The Suez Canal Authority Sets Historic Record with One Million Dollars in Revenue in One Hour

The Suez Canal Authority in Egypt has achieved a remarkable milestone in the country’s history by generating a revenue of one million dollars in just one hour.

Record-Breaking Revenue for the Suez Canal

The Suez Canal, a vital waterway in Egypt, has recently made history by earning a total revenue of one million dollars per hour, as reported by the Egyptian website Cairo 24. This unprecedented achievement highlights the significance of the canal’s contribution to the country’s economic growth.

Massive Fiscal Year Revenue for the New Suez Canal

According to a report by Cairo News on August 6, the new Suez Canal has generated a staggering $9.4 billion in revenue for the fiscal year 2022-23. This outstanding figure represents the highest revenue ever recorded in the history of the canal.

Global Importance and Economic Benefits

The Cairo News emphasizes that the new Suez Canal has become a crucial global artery, enabling Egypt to secure valuable foreign currency through the passage of ships. This development has not only boosted the country’s economy but also enhanced the efficiency and capacity of the canal, resulting in reduced waiting times and improved services.

It is evident that the Suez Canal has undergone significant advancements in recent years, cementing its status as a vital trade route.

Source: Egyptian Media