Panama Canal estimates revenues of $3,3 billion by 2021, foresees 33 transits per day
The Panama Canal budget for fiscal year 2021 estimated revenues of $3,3 billion and contributions to the National Treasury of $1,7 billion.
We consider the most favorable and advantageous figure that we have seen in the international trade forecasts, which reflect a reduction of 13% or up to 32% at the international trade level. We have adopted 13% as the most conservative figure, partly due to experience in the third quarter of this year where we experienced a significant reduction in the level of traffic, said Ricaurte Vásquez, administrator of the interioceanic highway before the Budget Commission of the National Assembly (AN).
Vásquez mentioned that for next year there will be 33 transits per day, which represents a reduction of 11.2%.
This will have an impact on the tonnage that transits through the Canal, and directly affects the income of the central government in the tonnage rate it charges, which is why we observe a 13% reduction in tonnage estimated for 2021, he warned.
The budget includes necessary resources for $1,23 billion for the operations of the Panama Canal and the maintenance of its equipment and infrastructure.
Other income for the next fiscal period comes from the sale of electricity for $27.6 million and the sale of drinking water for $35.6 million.
Within the investment program, it is planned to start the execution of water projects, the purpose of which is to obtain an integral solution to water management that guarantees its quantity, quality and control, both for human consumption and for the operation of the Panama Canal.
The Panama Canal budget project for fiscal 2021 was approved by the Cabinet Council on August 25 and must be submitted to the National Assembly for consideration, as established in Title XIV of the Constitution of Panama.
Vásquez mentioned that for next year there will be 33 transits per day, which represents a reduction of 11.2%.
This will have an impact on the tonnage that transits through the Canal, and directly affects the income of the central government in the tonnage rate it charges, which is why we observe a 13% reduction in tonnage estimated for 2021, he warned.
The budget includes necessary resources for $1,23 billion for the operations of the Panama Canal and the maintenance of its equipment and infrastructure.
Other income for the next fiscal period comes from the sale of electricity for $27.6 million and the sale of drinking water for $35.6 million.
Within the investment program, it is planned to start the execution of water projects, the purpose of which is to obtain an integral solution to water management that guarantees its quantity, quality and control, both for human consumption and for the operation of the Panama Canal.
The Panama Canal budget project for fiscal 2021 was approved by the Cabinet Council on August 25 and must be submitted to the National Assembly for consideration, as established in Title XIV of the Constitution of Panama.