, Dec. 8 -- The Suez Canal has recorded a notable rise in traffic and revenue since the start of Egypt's current fiscal year in July, the Suez Canal Authority (SCA) said Monday.

SCA Chairman Osama Rabie told an IMF mission that 5,874 vessels transited the waterway since July 1, generating 1.97 billion U.S. dollars - a 17.5 percent year-on-year increase. Net tonnage grew 14.4 percent to 247.2 million tonnes, while total vessel numbers rose 5.2 percent.

Rabie said long-term indicators point to continued recovery, projecting revenues of 8 billion dollars in FY 2026/27 and 10 billion dollars in FY 2027/28.

Last month, he estimated revenues would reach 4.2 billion dollars in 2025, compared with 3.9 billion dollars in 2024 - still below the ...