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Egypt's Suez Canal Reports Record High $5.585 Billion Annual Revenue
Source: 6/17/2018

Egypt's revenue from the Suez Canal for the 2017-2018 financial year rose 11.5 percent to a record high $5.585 billion (4.20 billion pounds), the canal authority said in a statement on its website .

Revenue a year earlier was $5.008 billion, it said. Egypt's fiscal year runs from July 1 to the end of June. The authoriy announced increased revenue in May, and predicted a record yearly figure, attributing this to increased international trade and improvements in the shipping industry..

Egypt under President Abdel-Fattah El-Sisi invested in an expansion of the Suez Canal which began in 2014.

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