This projection is part of the budget proposal submitted by the Panama Canal Authority (ACP) to the Cabinet Council, which must now forward it to the National Assembly (Parliament) for discussion and approval, to take effect on October 1.

The document projects total revenues of 5.55 billion dollars and operating expenses estimated at 1.75 billion dollars, in a scenario marked by water challenges and the possibility of a strong El Niño event.

Ilya Espino de Marotta, incoming administrator of the Panama Canal, noted that in addition to direct contributions to the Treasury, another 329 million dollars in income tax, social security, educational insurance, and labor-employer contributions for workers are expected to be delivered.

If these projections materialize, contributions and payments to the State would amount to nearly 3.93 billion dollars during the fiscal year.

The ACP is already implementing water resource conservation and management measures and has announced new adjustments to the locks’ transit capacity.

abo/iff/ocs/ga