World Economy

Suez Canal Revenues Up

Suez Canal Revenues UpSuez Canal Revenues Up

Revenue from Egypt’s Suez Canal reached $3.183 billion in the period between January 1 and August 6, 2016, up 4% from $3.059 billion in the same period last year, the Suez Canal Authority chairman said, Reuters reported. Mohab Mameesh, who was speaking at a one-year anniversary celebration of the opening of an expansion to the canal, said the canal’s revenues had increased despite slowing global trade. The Suez Canal Authority usually reports the canal’s revenues in dollars every month towards the end of the following month. The canal is one of Egypt’s main sources of foreign currency.