The Chamber of Commerce, Industry and Agriculture of Panama (CCIAP) requires the executive to present to the country in a concrete way how it will adapt General state budget for fiscal validity 2024.
The previously presented budget proposal reflected an unjustified, dubious and incoherent increase twenty% compared to 2023.
From CCIA’s point of view, General state budget for fiscal validity 2024 It must be structured in a way to significantly reduce operating costs, generate current savings and allocate funds to priority public investments.
“The originally presented budget project must undergo a complete reengineering through which the disproportionate and opaque amounts allocated to entities such as the National Assembly, an institution without investment projects and in which savings have never been reflected, will be forcibly reduced.” , claims CCIAP.
It is appropriate for the union to prioritize budgets such as the budget National Oncology Institute, Children’s Hospital and Higher Specialized Technical Institute (ITSE)among other things, which affect the quality of life of citizens.
According to businessmen, it is necessary to significantly reduce the state salary fund, as soon as possible to eliminate unnecessary and duplicate jobs in the company. Public administrationwhich are just a tool for politicking and corruption.
They point out that the data shows that, at a time when the country required extreme austerity, from 2020 to 2023, spending on wages reached a worrying cumulative figure of 15.341 million dollars.
“The cuts we are demanding are not equivalent to sacrificing education, that is unacceptable. The education budget must be proposed with relevant objectives that do not increase costs, but reflect investments aimed at improving the quality of the Panamanian education system in a measurable way,” they added.
They believe that this budget should strengthen The justice system with the necessary resources for both the judicial branch and for Public servicein such a way that they are consistent with the importance of their functions and the expected results in terms of transparency and the fight against corruption.
They conclude that the General State Budget for the fiscal year 2024 must focus on a responsible and efficient fiscal policy that encourages the reduction of business costs and prioritizes public investments in strategic areas.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
