Egypt’s Suez Canal revenue $853.7 million in April and March: statement

A cargo ship is seen crossing through the New Suez Canal, Ismailia, Egypt, July 25, 2015. REUTERS/Stringer/File Photo

Egypt’s revenue from the Suez Canal was $853.7 million in April and March, 4.1 percent higher than the same period a year earlier, the Suez Canal Authority said in a statement on Wednesday.

The statement did not give a breakdown for April but Suez Canal Authority Chairman Mohab Mameesh said on March 31 that revenues came to $423.9 million in March.

Officials from the authority were not available for comment.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.

Egypt has been struggling to revive its economy since a 2011 uprising scared away many tourists and foreign investors, key sources of hard currency.

Originally published by Reuters.

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