Wednesday, October 19, 2011

Panama Canal would bring the State $985 million this year.

In its 12 years of Panamanian administration, the Panama Canal will be delivering to the National Treasury 6 billion 556.1 million dollars.

In 2011, Panama Canal broke a record in freight volume, reaching 322.1 million tons in one year. This figure improved record by 7.1% from 2010.

Direct contributions from the Panama Canal to Panama budget this year will total $985 million, according to the latest estimates from the Ministry of Economy and Finance.

This figure will be $147 million above what was budgeted for 2011. The total contributions consist of $365 million in tolls ($21 million more than budgeted) and $620 million dividend ($126 million more than budgeted).

The improvement in the results of 2011 is due to increased traffic on the waterway, which also was a record. For next year, the Canal expects 332.5 million tons in freight volume.

Summary by Juliette Passer, La PRENSA, October 2011

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