The head of the Suez Canal Authority (SCA), Osama Rabie, said on national television that the goal is to raise the volume up to 15 percent.

Rabie spoke of the plans to receive seven billion dollars, 700 million more than last year, when a record in the history of the channel was reached.

According to a recent report by the institution, 1,691 million dollars were collected in the first quarter of 2022, a 20 percent year-on-year increase.

The SCA raised transit fees between 5.0 and 10 percent from March 1st due to higher global trade volumes and improvements in services.

The Canal is a 163-kilometer-long man-made navigable waterway that connects the Mediterranean and Red seas, and was built between 1859 and 1869.

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