Current Nawat at Egyptian ports
  • Red Sea Next Al-Azraaa (Al-Rashaa) Start 29 April - Duration 13 day ، Spring
News
News

Suez wage bill not being met by tolls

Suez wage bill not being met by tolls
Almaqal

A well known economics professor at Cairo University, Dr Rashad Abdou, has spoken out about how revenues from the Suez Canal are not enough to cover the wages of state employees looking after the waterway.

The annual wage bill of staff covering the canal is at least 15% higher than the $5bn in annual toll revenues. Special funds pumped in are also not enough to cover the deficit, he added. Inflation in Egypt is the leading reason for this shortfall, he argued, while appearing on local television


Information Services

The Egyptian Pound Against Foreign Currencies

59.326

47.929

46.944

25.473

23.295

19.63

18.05

13.245

4.957

4.915

4.813

2.618

2.042

0.162