Cabinet Council approves Canal budget

The Cabinet Council, headed by the President of the Republic, José Raúl Mulino, today approved the draft budget presented by the Panama Canal Authority (ACP) for the fiscal period 2025, which runs from October 1, 2024 to October 30. September 2025.

The budget for fiscal year 2025 of the Panama Canal projects total income of 5,623.5 million dollars from the commercial operation of the interoceanic waterway, 17.7% more than the figure budgeted in its fiscal year 2024.

While the total expenses for the operation of the Panama Canal were projected at 2,190.5 million dollars, including the cost of rights and services provided by other entities of the Panamanian State.

This balance will leave the ACP a net profit of 3,761.4 million dollars in fiscal year 2025, of which 2,789.5 million dollars will be reserved for the contributions that the Canal will make to the National Treasury in this period.

The ACP also budgeted for its fiscal year 2025 other payments to State entities for 286.3 million dollars in income tax, social security and educational insurance.

The ACP's 2025 budget details that the income it will receive in fiscal year 2025 from transits will reach 5,527.8 million dollars, 858.1 million or 18.4% more than in the fiscal year 2024 budget.

Of the total transit revenue budgeted for fiscal year 2025, about $4.139 million corresponds to toll revenue. This represents an increase of $577.8 million or 16.2% compared to fiscal year 2024 toll revenue.

This increase in toll revenue would be the result of 13,900 transits projected for fiscal year 2025, which represent 520.3 million CP/UMS 97 tons, according to the transit projection as of June 2024.