Egypt's Suez Canal to see a record high in revenues in 2014
Reuters, Friday 21 Mar 2014


Revenues from Egypt's vital waterway Suez Canal, one of the country's main sources of foreign currency, are expected to reach $5.5 billion in the current fiscal year, the head of the authority that manages the waterway said on Thursday.

Suez Canal Authority chief Mohab Memish said this would be a record high. Revenues from the canal rose 8.5 percent in November from a year earlier to $442.4 million, according to the latest statistics.



The artificial waterway which connects the Mediterranean and Red Sea saw around $5.2 billion in revenues during the fiscal year 2012/13, official data showed.



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