Egypt's Suez Canal revenue rises to $462.1 million
The canal is the fastest shipping route between Europe and Asia and is one of the country's main sources of foreign currency
Egypt's revenue from the Suez Canal rose to $462.1 million in August, from $437.7 million in July, the Suez Canal Authority's website stated on Tuesday.
Revenues in June were $431.6 million, it said.
The canal is the fastest shipping route between Europe and Asia and is one of the country's main sources of foreign currency.
On August 6, President Abdel Fattah al-Sisi launched an $8-billion expansion of the canal that aims to double daily traffic by 2023 and increase annual revenues to more than $13 billion by 2023, from just over $5 billion in 2014.
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