The board of directors of the General Authority for the Economic Zone of the Suez Canal reviewed the financial statements and the final account of the authority for the past fiscal year 22/21.
– The total list of financial position of the Authority amounted to 33 billion pounds on June 30, 2022, compared to 18 billion pounds in June 2021, as a result of the implementation and completion of some projects and development work in the seaports affiliated to the Authority for its integration with the industrial zones, as part of the authority’s strategy in developing its ports.
– The Economic Authority achieved a surplus of 2.214 billion pounds for the year 21/22, compared to a surplus in 20/21 that amounted to 2.212 billion pounds.
– The economic zone achieved total revenues of 3.419 billion pounds in the past fiscal year, compared to revenues during the previous fiscal year amounted to 3.2 billion pounds, an increase of 9%, despite the negative impact of global variables from the repercussions and impact of the Corona pandemic, as well as the repercussions of the Russian-Ukrainian crisis.
– The authority’s fixed assets increased by 5.7 billion pounds, to 18 billion pounds, compared to 10.5 billion pounds, an increase of 71%.
The authorized capital was increased to 200 billion pounds, and the paid-up capital reached 14.6 billion pounds.
Representatives of the Central Auditing Organization praised the performance of the Economic Authority for the past four years in a row, describing its report as a “clean report”, rational management and the adoption of governance in administrative performance within the authority, as well as the precise procedures that are taken in dealing with investors, especially after cooperation with the European Bank for Reconstruction. And development, to implement one-stop digitization services to facilitate the work of investors.