Panama to earn $2.4 billion less in canal fees

Panama's government will receive $2.4 billion less in revenue from its canal over the next five years than it forecast nearly a decade ago, the country's finance minister said.

A change in cargo trends and less dynamic trade are the main causes that will lower revenue from the canal, Finance Minister Frank de Lima said.

De Lima added that Panama's public sector fiscal deficit was around 1.2 percent of gross domestic product in the first quarter of this year, broadly in line with the same period last year.

Source: Reuters