Egypt seeks to sell train tickets to foreigners in USD

Egypt is seeking to raise up to $40 million from selling train tickets to foreigners and Arabs in US dollars during the fiscal year (FY) of 2023/2024, a government official told Asharq Business on August 14th.

The move is part of the country’s efforts to provide the foreign currency required to purchase the needed spare parts and repay part of the loans directed toward the new railcars and locomotives purchased in recent years, the official said.

Earlier this month, the Egyptian National Railways (ENR) applied a tariff on the air-conditioned trains to be paid by foreigners for the first time ever.