Egypt's vital waterway Suez Canal reported revenues of US$3.65 billion (27.8 billion Egyptian pounds) during the first 8 months of current fiscal year 2014/2015. From 1 July 2014 to 28 February 2015, 11.618 vessels have crossed the canal waterway with 659.200 million tonnes of cargo, according to the Suez Canal official statistics. The statistics also stated that the Canal has recorded monthly revenues for February totalling US$382 million through 1219 vessels crossed with 73.210 tonnes. Suez Canal Authority head Mohab Mamish expected the Canal revenues for the fiscal year 2014/2015 to exceed 40 billion pounds. He told reporters after a Cabinet meeting last Wednesday, March 25, 2015 that the revenues were affected recently because of shortage of foreign currencies but the revenues increased in the Egyptian pound. He added that 16 billion pounds were so far spent in the dredging operations in the new Canal.
