Panama Aeronautics Authority to reduce investment by 25%

The Civil Aviation Authority of Panama will reduce its investments in 2009 by $1.69 million or 24.7%.

Wednesday, October 22, 2008

Eustacio Fabrega, director of AAC, indicated that the reduction is because 2009 is the last year of a five year plan that has underway since 2004. "With this budget item we are concluding the investment plan for infrastructure."

The $6.58 million for investment in 2008 has been reduced to $4.89 million in 2009, $1.69 milloin less.

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Guatemalan Congress Approves 2012 Budget

November 2011

Congress has passed the General Budget of Revenues and Expenditures of State for Fiscal Year 2012, amounting to $7,624 million.

A press release by the Congress of the Republic of Guatemala reads:

With 100 votes and the opposition of the National Unity of Hope and Renewed Democratic Freedom bench, the House of Congress approved Decree 33-2011, which approves the General Budget of Revenues and Expenditures of State for Fiscal Year 2012, amounting to 59, 547 million quetzals ($ 7,624 million), 70 % of which is to be funded from income tax, as well as the placement of treasury bonds amounting to 7,500 million quetzals ($ 960 million).

Canal to Net Panama $950 Million

September 2011

Panama's National Assembly has approved the 2012 Canal Authority’s budget, projecting record revenues and transfers to state coffers.

A press release by the Panama Canal Authority reads:

Canal Assembly Approves Budget

PANAMA CITY, September 1, 2011 - The National Assembly approved on Thursday, in the third debate, the budget of the Panama Canal Authority for Fiscal Year 2012 which expects revenues of B/.2, 398.9 million.

ACP Presents 2012 budget

August 2011

The Panama Canal Authority (ACP in Spanish) for 2012 expects revenues of $2.367 million and contributions to the government to be $950 million.

Projected revenues are: $1.828 million in tolls (77% of total), $429 million in services related to the transit of vessels (18%), $84 million in electricity sales (4%) and $26 million in sales of water (1% ).

Panama Has Executed 42.7% of Planned Investments

June 2010

Up to May, the Government had executed $1.65 billion of its planned investments for 2010.

By the end of the fiscal year, the Government intends to have completed 80% of its $3.87 billion budget.

"Omar Castillo, budget director at the Finance Ministry, explained that each month, they invest and average $500 million" reported Prensa.com.

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