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   boost      ceremony      experts      extension      figures      future      gift      head      important      increase      months      opening      original      passageway      predictions      presidential      revenue      revenue      shipping      treasury  
Egypt's President Sisi has attended a to open an of the Suez Canal. The canal was built in 1869. It took 10 years to build. The new, $8.5 billion canal was built in 12 . It beat by that it would take five years. The canal is a between the Mediterranean and Red seas. President Sisi sailed up the canal in his yacht, the El Mahrousa, to attend the . The yacht was the first ship to officially sail through the original canal a century-and-a-half ago. President Sisi said the new canal is Egypt's " to the world".

Egypt's government hopes the canal will be a much-needed for the economy. The of the Suez Canal Authority said it was to ensure Egypt earned money from its waterways in the . He said: "If I can't handle this and turn it into for the Egyptian , alternative routes will emerge." He hopes will increase from $5.3 billion now to $13.2 billion by 2023. That means traffic must grow from the current 49 ships per day to 97 by 2023. This needs a nine per cent in global trade. Some economists doubt whether these can be met.

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