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Egypt's Suez Canal revenue $853.7 million in April and March: statement
May 10, 2017 / 11:45 AM / 7 months ago

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

CAIRO (Reuters) - 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 NYK Antares container ship of Japanese shipping company Nippon Yusen (NYK Line) sails across the Gulf of Suez towards the Red Sea before entering the Suez Canal, in El Ain El Sokhna in Suez, east of Cairo, Egypt April 24, 2017. REUTERS/Amr Abdallah Dalsh

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.

Reporting by Yusri Mohamed; writing by Asma Alsharif; editing by David Clarke

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