What next for the economy?

The government can now happily cross the New Suez Canal off its to-do list. Experts agree that the new canal alone will not create a breakthrough in the country's economic performance in the short term, but with the development of the Suez Canal Corridor and improved global growth badly needed hard currency revenues could increase.

Harshjit Oza, assistant director at Naeem Brokerage, says the New Suez Canal has created an international footprint for Egypt and a positive vibe for the country and the economy.

"It is not going to change things significantly in the short term, given the slowdown in global economic trade, but certainly it will benefit Egypt in the long run when the recovery happens," Oza said, adding that the New Canal would benefit the Canal cities of Suez, Ismailia and Port Said as the Suez Canal Area Development Project rolls out.

Some officials have announced that the canal is already seeing more traffic with 63 vessels crossing on the second day following the inauguration. But Ahmed Kamali, an associate professor of economics at the American University in Cairo, says not too much should be read into individual numbers.