Cairo – Mubasher: Egypt’s Prime Minister, Mostafa Madbouly, announced the country’s plans to raise the dollar revenues to $191 billion annually by 2026, compared to the current amount of $70 billion.
During a press conference that was held on 11 July, Madbouly indicated that the Arab Republic aims to increase the merchandise exports and tourism revenues by 20%, each, annually.
The target will also include raising each of the remittances of workers abroad, foreign direct investment (FDI), Suez Canal revenues, and outsourcing services by 10% on an annual basis.
In this regard, commodity exports are expected to hit $88 billion, while the revenues from the tourism sector and the Suez Canal will stand at $20 billion and $17 billion, respectively.
Remittances of workers abroad, the FDI, and outsourcing services will reach $45 billion, $13, and $9 billion, respectively.
During fiscal year (FY) 2022/2023, the Suez Canal’s revenues hiked year-on-year (YoY) to $9.40 billion from $7 billion.
