Suez Canal tolls for all vessels will increase 3 percent as of March, Egypt's Suez Canal Authority announced Thursday.
The toll increase was based on studies the canal management conducted over recent months regarding maritime transport forecasts for next year, according to an authority statement. The studies took into account predicted economic growth in various regions around the world and trade expectations.
The authority added that it also considered the canal's vital economic role in Egypt and abroad, the importance of keeping it an affordable maritime route and the stability of tolls over the past three years.
The waterway is a vital source of foreign currency for Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.
Translated from the Arabic Edition
