EGYPT's Suez Canal Authority expects to achieve revenue of US$5.5 billion in the current fiscal year, as it attracts the larger ships that cannot pass through the Panama Canal until its expansion is completed.

Authority chief Mohab Memish said this would be a record high.

Revenues from the canal increased by 8.5 per cent in November compared to the same month a year ago to $442.4 million, according to the latest statistics, Reuters reports.