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Panama Passes Colossal Canal
Budget
The Cabinet Council fixed a
$568-million budget for 2007 to
widen the Panama Canal, to
involve good economic management
of the seaway.
Presidential sources reported
that the budget of the Panama
Canal Authority (ACP) is
justified because it will
generate significant income.
The amount is also another
unprecedented number in the
Canal history, with direct
contributions to the Treasury of
$833 million.
A presidential communiqué said
that thanks to the Canal, the
country will also receive
$120-million in indirect
contributions.
The new budget surpasses the
previous one by 20 percent.
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