ICEC

Suez Canal revenues drop to $427.2 million in June

Egypt’s Suez Canal revenues dropped to $427.2 million in June from $439.8 million in May, a cabinet statement showed Wednesday.

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 tourists and foreign investors, key earners of hard currency.

Source: Reuters

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