Middle East Economic Survey


No 9



Important Source Of Egyptian Income Shrinks As Suez Traffic Plummets

The slump in global trade is having a more severe impact than was expected on traffic through the Suez Canal, a crucial source of income for the Egyptian government. Despite the Suez Canal Authority (SCA)s efforts to encourage traffic through the canal, by temporarily freezing its tolls in early January, revenues for the first month of the year were 65% down on August...