The Panama Canal Authority expects $5.56 billion in revenue and a $3.61 billion direct contribution to Panama’s national treasury in fiscal year 2027. The budget proposal, presented to the Cabinet on Tuesday, projects 10,750 high-draft vessel transits from October despite challenging water conditions and the potential for a strong El Niño phenomenon. Direct treasury payments would increase by $414 million from the $3.19 billion approved for fiscal 2026, while total transfers to the state, including income tax, social security and educational insurance, are projected at $3.94 billion. The canal recorded 10,623 high-draft transits between October 2025 and July 2026. Customer tariffs will remain unchanged, although the per-net-ton fee will rise from $1.00 to $1.75 per CP/SUAB ton. Planned investment spending totals $341.3 million, including $82 million for the Rio Indio lake project, where initial resettlements and construction design tenders are scheduled to begin during the fiscal year. Panama’s National Assembly will consider the proposal next.