Panama: Canal Contributes To The National Treasury $ 76.4 Million More Than Planned

The Panama Canal contributed $ 1.043 million to the National Treasury during fiscal 2015, exceeding 8% than estimated at first: 966.6 million dollars, said the administrator of the Panama Canal Authority, Jorge Quijano.

For fiscal year 2016, which ends on 30 September, it is expected to deliver the state 1,060 million dollars, according to the terms of the budget of the Canal organization.

In the 16 years of Panamanian administration of the Panama Canal, it has contributed more than 10 billion dollars to the National Treasury, money that is used for the development of social projects such as building schools, hospitals and roads, among others.

The Panama Canal closed fiscal 2015 with a record of the total tonnage of 340.8 million PC / UMS tons (Universal System Tonnage Panama Canal), representing an increase of 4.3% compared to 326.4 million tons in fiscal 2014.

This figure represents an increase of 7.1 million tons compared with the previous record of 333.7 million PC / UMS tons, which was set in the 2012 fiscal year.

In order of importance are the total registered tonnage container ships, followed by dry bulk, liquid bulk and car carriers. The increase was driven in particular by the segment of liquid bulk, which reported an increase 11.9 million PC / UMS tons, an increase of 23% over the previous year as a result of booming exports of diesel , gasoline and propane from the Gulf of Mexico, USA, bound for South America and Asia.

The Panama Canal administrator, Jorge Quijano, said that the contribution of 2015 is the largest it has received the National Treasury during the Panamanian administration.

He also said he has not received any notification from the Ministry of Finance concerning the corresponding reserves do to ensure the input channel estimates to the state, given the situation with Grupo Unidos por el Canal.

He said the Contractor GUPC has an advance of 860 million dollars at the time will have to return because it is in moratorium.

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