{"id":3670,"date":"2023-12-19T15:37:59","date_gmt":"2023-12-19T15:37:59","guid":{"rendered":"https:\/\/latamreports.com\/es\/?p=3670"},"modified":"2023-12-19T15:38:00","modified_gmt":"2023-12-19T15:38:00","slug":"panama-to-slash-2024-budget-by-2-billion","status":"publish","type":"post","link":"https:\/\/latamreports.com\/es\/panama-to-slash-2024-budget-by-2-billion\/","title":{"rendered":"Panama to Slash 2024 Budget by $2 billion"},"content":{"rendered":"\n

A statement from the Presidency details that the budgets of the Assembly and the Decentralization Authority were greater than $50 million in each entity.<\/p>\n\n\n\n

The National Government reduced the State General Budget by $2,064 million by 2024<\/strong>, when the Cabinet Council approved the adjustment, on Monday, remaining at $30.690 million.<\/p>\n\n\n\n

This budget remains higher than this year’s, at $1.8 billion<\/strong>, 6.2%, the Presidency of the Republic reported in a statement.<\/p>\n\n\n\n

What institutions were made in their budgets?<\/strong><\/p>\n\n\n\n

According to the Executive’s statement, the National Assembly was reduced by $56.8 million<\/strong>, while the Decentralization Authority was $50 million.<\/strong><\/p>\n\n\n\n

Of these two institutions, the main cuts were expected, due to the political nuance with which their budgets have been managed in the last years<\/strong>, which has received countless complaints.<\/p>\n\n\n\n

A ministry with a significant reduction in its budget was Economy and Finance, with $207 million<\/strong>, while the Presidency received an adjustment of $31.8 million.<\/strong><\/p>\n\n\n\n

Other entities that were reduced in the budget are, among others, the Ifarhu ($50 million), Ministry of Public Works ($112.5 million), Unachi ($14.9 million).<\/strong><\/p>\n\n\n\n

On the other hand, Carlos Gonz\u00e1lez, Deputy Minister of Economy<\/strong>, explained that the 2024 budget contemplates the construction of the new Cancer Hospital in phase 1, and the Hospital de Metet\u00ed, Dari\u00e9n.<\/p>\n\n\n\n

On the Oncology, the citizenry showed their discontent, because the tender for the new hospital was cancelled and by 2024 the institute suffered a cut in its budget.<\/strong><\/p>\n\n\n\n

Meanwhile, the Meteti Hospital<\/strong> is part of a group of facilities that IBT stopped building and with which an exit was negotiated to avoid arbitration.<\/p>\n\n\n\n

The Columbus<\/strong> hospital, which is part of this group, is already being built by other consortia, while nothing was used from the Bugaba hospital.<\/strong><\/p>\n\n\n\n

The Minister of Economy, Hector Alexander<\/strong>, reported that the increase of the budget to the education sector to 7% of GDP, as established by Law 362 of 2 February 2023, is maintained with the readjustment formulated.<\/p>\n\n\n\n

In addition, debt service is growing to $1.1 billion.<\/strong><\/p>\n\n\n\n

Both increases, overall, are greater than the increase in the budget of 2024 ($1,808.1 million)<\/strong> over the amended budget of 2023.<\/p>\n\n\n\n

If these increases did not exist<\/strong>, the amended budget of 2024 would be lower than the 2023 budget to date, Minister Alexander said.<\/p>\n\n\n\n

The headline emphasized the impact of special laws<\/strong> on the budget. The increase in wages for special laws represents spending on the state’s $2.54 billion over the five-year period from 2020 to 2024, he said.<\/p>\n\n\n\n

The Executive should convene extraordinary meetings of the Assembly<\/strong> to approve this budget.<\/p>\n\n\n\n

The chairman of the Budget Committee, Benicio Robinson<\/strong>, said that the first budget presented by the Government was not returned, so the Executive will have to withdraw the project, before presenting the new one.<\/p>\n\n\n\n

This article has been translated from the original which first appeared in PanAmerica<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A statement from the Presidency details that the budgets of the Assembly and the Decentralization Authority were greater than $50 million in each entity. 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