Cairo – Mubasher: Egypt’s revenues from the Suez Canal fell by 4.7% year-on-year in November, according to official figures.
Revenues reached $389.2 million in November, compared to $408.4 million in the same period last year.
November's revenues are the least since November 2015 of $382 million, according to official statement.
Earlier, the Central Bank of Egypt announced that the proceeds of the Suez Canal revenues went down by 4.5% reaching $5.1 billion in the fiscal year 2015/16.
The budget estimated EGP 24.3 billion net profit during 2016, compared to EGP 23.9 billion last year.
The Suez Canal is the fastest shipping route between Europe and Asia. President Abdel-Fattah El-Sisi inaugurated a $4 billion expansion of the canal on 6 August 2015.
