Suez Canal revenues likely to fall to $3.6bln in FY2024/25: IMF
The IMF projected the Suez Canal revenues to recover over the coming years and hit $6.3 billion in FY2025/2026, $8.2 billion in FY2026/2027, and $11.9 billion in FY2029/2030.
In the IMF report on the fourth review, the fund elaborated that trade disruptions in the Red Sea since December 2023 reduced foreign exchange inflows from the Suez Canal by $6 billion in 2024.
Meanwhile, transit trade volumes remained at about a third of pre-conflict levels, with further negative spillovers to growth and fiscal revenues.
In March, President Abdel Fattah El-Sisi revealed that Egypt incurs monthly losses estimated at nearly $800 million in Suez Canal revenue due to the current situation in the region.
During the third quarter (Q3) of FY2024/2025, the Suez Canal activity plummeted by 23.1% year on year (YoY).
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