CAIRO, June 10 (Xinhua) -- Egypt's tourism revenues rose 14.9 percent year-on-year to 14.4 billion U.S. dollars during the first nine months of the 2025/26 fiscal year, according to a government statement issued on Wednesday.
The revenues were recorded between July 2025 and March 2026, up from about 12.5 billion dollars during the same period a year earlier, the statement said. Egypt's fiscal year ends in June.
European countries remained Egypt's largest source of tourists, accounting for 69.2 percent of total visitor arrivals during the period. Russia was the top source market for visitors to Egypt, followed by Germany, according to the statement.
Also on Wednesday, Egypt's Minister of Petroleum and Mineral Resources Karim Badawi said Egypt has cleared all outstanding arrears owed to foreign oil and gas companies operating in the country, after they reached about 6.1 billion dollars in June 2024.
Settling the arrears would help restore investor confidence and increase investment in the country, Badawi said.
Seperately, Egypt's Planning and Economic Development Minister Ahmed Rostom said Wednesday the country's annual inflation rate slowed to 13 percent in May from 13.4 percent in April, reflecting a moderation in price pressures after a sharp rise earlier this year.
Egypt has been seeking to expand tourism capacity and attract fresh investment into its energy sector as it pursues efforts to support economic growth. ■
