Cairo – Mubasher: Egypt’s revenues from the Suez Canal fell by 7% y-o-y in October, according to official figures.

Revenues from the international waterway dropped to $418.1 million in October, compared with $449.2 million a year earlier.

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 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.