[00:00.12]Egyptian officials are making plans to open a newly-expanded Suez Canal on August 6th. [00:07.80]Officials say the "new" canal will be more than double the waterway's earnings over the next 10 years. [00:15.80]But some experts say the project alone will not be able to turn around Egypt's economy. [00:23.36]Admiral Mohab Mohamed Hussien Mameesh heads the Suez Canal Authority. [00:29.80]He says the project will cut in half the amount of time it takes to travel through the Suez Canal. [00:44.68]He says this time savings will lower costs for shippers. [00:50.68]The expansion of the current canal means two ships will be able to sail by each other. [00:58.76]Now, there is only enough room for one ship to pass through the waterway. [01:05.08]The Suez Canal connects Europe and Asia. [01:08.80]The canal earned $5.5 billion in income for Egypt last year. [01:15.80]Admiral Mameesh says less than 10 years from now, [01:26.00]the expanded canal will earn $13 billion a year. [01:31.72]Professor Andrew Lambert teaches naval history at King's College in London. [01:37.68]He says the success of the canal will depend largely on the health of the world's shipping industry. [01:45.64]He says that is something Egypt cannot control. [01:50.00]And he says even if the expanded canal is successful, [01:55.20]he does not think it will improve the lives of average Egyptians. [02:00.36]People in Egypt are facing rising poverty rates and prices. [02:05.48]The economy is slowly recovering from recent financial and political unrest. [02:11.92]"Egypt is a large, complex country with a very big population. [02:16.52]It is highly unlikely it is going to be able to live off the kinds of incomes it will get -- even from two canals. [02:22.36]The costs of governing Egypt are very large. It has major debt problems." [02:28.96]But officials say the economy is growing. [02:32.44]And they say the canal is just one project [02:35.90]that will both increase foreign investment in Egypt and create income for the country. [02:43.76]Words in This Story [02:45.88]canal ¨C n. a waterway that is designed so boats can pass through it [02:52.76]income ¨C n. earnings; money that is earned from work, business or investments [02:55.64]complex ¨C adj. of or having many parts that are difficult to understand; not simple. [03:00.48]¸ü¶àÌýÁ¦Çë·ÃÎÊ51VOA.COM [03:09.44]