Egypt's Suez Canal sees $469 mn revenues in May

Ahram Online, Sunday 8 Jun 2014

Officials say that revenues from the vital waterway should reach $5.5 billion this fiscal year

Egypt's Suez Canal saw a 7 percent increase in revenues last May, as compared to the same month a year before.

According to the canal's official website, revenues last month recorded some $468.8 million.

The Suez Canal's revenues in the first 11 months of the current fiscal year – which ends in June – recorded $4.8 billion, representing a 5 percent rise in the same period of the last fiscal year 2012/13.

Mohab Memish, head of the canal's authority, said in March that revenues from the canal are expected to reach a record high of $5.5 billion in 2013/14.

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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