Egypt's Suez Canal to see a record high in revenues in 2014

Reuters, Friday 21 Mar 2014

Suez Canal (Photo: Reuters)

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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