Canal forecasts $2.02 billion revenue

PANAMA. The Panama Canal Authority (ACP) forecasts revenues of $2. 02 billion for the 2009-2010 fiscal year, according to the budget bill approved by the government.

The accounting figures presented for the period running from October 1, 2009, to September 30, 2010, project operating expenses totaling $638 million

State contributions will total $753.9 million, the Panamanian President's Office announced in a statement on Wednesday. The total income predicted is slightly below the $2.1 billion forecast for the fiscal year ending Sep 30, 2009. Canal Affairs Minister Romulo Roux presented the budget to the cabinet, which gave it the green light and ordered it to be sent to the National Assembly for final approval. ACP expects to earn $1.46 bn in tolls, $432.6 m in other maritime services and $179.2 m in other incomes, including the sale of water and energy in 2009.