PANAMA CITY, Feb 19 (Reuters)
Revenue from Panama Canal transit fees are expected to increase by about 10 percent in 2008, despite likely slower growth in world trade, the Panama Canal Authority said on Tuesday.
Toll revenues should reach $1.30 billion this year, compared with $1.18 billion in 2007, Authority analyst Rodolfo Sabonage said at an event.
Many of the gains are expected to come from increased transit fees. In January, the Authority reported that toll revenue had increased in the previous three months by about 8 percent to $300 million, despite a drop in transits resulting from high oil prices and slower growth in U.S. demand.
The Panama Canal accounts for about 20 percent of Panamanian gross domestic product and its toll revenue accounts for a sizable chunk of the national budget. (Reporting by Andrew Beatty; Editing by Braden Reddall)
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