Pardini & Asociados Image Pardini & Asociados Image

Channel will bring to Panama US$ 1,736.6 million

Posted on 2018-11-21

The Panama Canal will bring $1,736.6 million to the State for the 2019 budget, according to the draft budget Act for that entity which was approved by the Cabinet Council.

Cabinet resolution authorizes the Minister of the channel, Robert Roy to submit to the Assembly the draft law that dictates the budget of the authority of the Canal of Panama (ACP) for 1 October 2018 fiscal period to September 30, 2019 which projected income by US$ 3 thousand 239.5 million.

According to the ACP Manager, Jorge Luis Quijano, this budget proposal projects a $212.7 million increase in revenues from the business of transit with regard to the budget approved for 2018.

In addition, expected that in fiscal year 2019 Canal transit 450.7 million PC/UMS tons (Universal system of tonnage of ships in the channel of Panama), representing an increase of 21.3 million PC/UMS 97 tonnes with regard to the budget of the 2018.

Resources needed by US$ 1,228.9 for Canal operations and maintenance of its equipment and infrastructure are included in the budget of fiscal year 2019.

Source AnPanama

 

 

Leave a comment

Leave a comment

Comments

Display more comments

Ready to do Business in Panama?

Our Panama attorneys law firm offers a Guide to Doing Business in Panama completely FREE! Download here!

Get it now

Pardini & Asociados Image