Panama won 15,000 million dollars in the 19 years of Canal control

Panama won 15,000 million dollars in the 19 years of Canal control



Panama celebrates today 19 years of control of the Interoceanic Canal, a period in which it has obtained more than 15,000 million dollars in revenues, a little more than half of the current public debt of the country, of about 26,000 million dollars.

The administrator of the Panama Canal Authority (ACP), Jorge Quijano, highlighted in his report that this infrastructure has been consolidated in these 19 years "as one of the main routes of international trade, offering a reliable, safe and profitable service that it generates multiple benefits for Panama. "

"Since the year 2000, the Panama Canal has delivered direct contributions to the National Treasury for 15,032 million dollars, registering in the fiscal period 2018 a historical annual contribution of 1,703 million," he said.

In 85 years of operation in the United States (1914-1999), Panama received just over 1,500 million dollars of its most valuable asset, which it recovered on December 31, 1999, in compliance with the 1977 Torrijos-Carter Treaties.

Quijano emphasized that in 2006 Panamanians decided to build the third set of locks, operational since 2016, which has resulted in an increase in contributions received by the State.

Nearly 35,000 Panamanians worked on this project, in which almost 6,000 million dollars were invested.

Remember that there is also a positive indirect economic effect due to purchases from local suppliers and the contributions made to the Treasury by almost 10,000 road workers.

Quijano recalled that the construction of the water treatment plant in Mendoza was also assumed in the district of La Chorrera, which supplies water to more than 200,000 residents of the province of West Panama; and the planting of 3.3 million seedlings in reforestation programs throughout the country.

The Panama Canal has coordinated a model plan for Latin America that has benefited more than 7,000 people with title to their land in the watershed, as well as the training of 1,250 farmers in sustainable productive activities to care for water sources he remembered.

He remarked that "in these 19 years, the Panamanian administration has allowed to multiply the presence of the interoceanic road in different latitudes of national life, leaving traces in areas such as culture, the preservation of historical memory and the promotion of sustainability programs in the Canal Hydrographic Basin ".

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