The Panama Tourist Authority (ATP) included in Additional supplementary credit to the general state budget For the fiscal year 2024, the funds that will complete the budget amount to 20 million dollars corresponding to the Tourism Promotion Fund (Promtur).
It’s recent CEO of Promtur Panama, Fernando Fondevilaexpressed concern about the allocation of 10 million dollars, out of 20 million allocated by law, for competition with international markets, he stated. Fernando Fondevila, CEO of PROMTUR Panama for local media.
Fondavila warned negative economic effect in the amount of 1.1 billion dollars as a result of reduced capacity for the development of international promotion activities.
In 2023, Promtur operated with a budget of around 20 million, with some actions carried over from the previous year, which represented an economic impact of close to 1.7 billion dollars, he indicated.
The Government’s decision was published in the Official Gazette, which proved a Additional supplementary credit to the general state budget for fiscal year 2024, with appropriations in favor Panama Tourism Authority (ATP), up to the amount of 13 million 420 thousand 851 dollars, which will be presented Committee of the National Assembly for the budget for your approval.
This additional additional credit will include resources in the Operational and investment budget of the Tourist Board of Panama to cover contractual obligations such as fees under Contract 018118 SMG Latin America, as per clause 5. Corresponds to validity 2023; SMG Latin America Incentives, under Contract 018/18 for a rate of 2% on food and beverage sales; Payment Lease Agreement 017/23 Balboa International Holding (offices of the Panama Tourism Authority in PH BICSA), co-signed on December 29, 2023; Payment of Maintenance Contract O 17/23 Balboa International Holding (Panama Tourism Authority Offices at PH BICSA) for Fiscal Period 2023 Approved December 29, 2023.
Additional payment from Seniority premium for former officials part of 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023; Harmonization of payments for the XIII month of 2024 (Judgment of the Supreme Court of Justice); Payment of remuneration to the employer for the adjustment of the XIII month (Judgment of the Supreme Court of Justice); Installation works for toilets and bathrooms in Miel Darién; Darien; The advertising service is provided by Aerolínea Iberia and for contract 010/2023 EXPOEVENTO (first payment for the organization, development, logistics service for the World Tourism Industry Fair ATWS 2024, approved on December 29, 2023).
Financing of this additional supplementary loan will be through cash and bank balance of previous periods (121) of current account no. 10000013670 Tourist Board of Panama – General Fund deposited with the National Bank of Panama on December 31, 2023, available balance of $3,759,942, and on January 31, 2024, had an available balance of $17,504,544.
These contributions collected in buildings and premises (rent of the Atlapa Convention Center, Amador Convention Center 100%), airport service fee (25%) per passenger arriving in Panama, other miscellaneous income (sales of tourism laws, fines, refunds of Atlapa), IDB loan 4944/0C-PN – Panama Tourism Authority and Ministry of Trade and Industry for capital transfer.
The Ministry of Economy and Finance, in the name and representation of the Cabinet Council, will be responsible for submitting it for consideration Parliamentary Budget Committee National, this resolution of the Government for the purpose of its approval and subsequent registration of codified details of income and expenditure for its execution.
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.
