Business Chamber demands re-engineering of ‘incoherent’ State budget

The president of Panama’s Chamber of Commerce, Industries, and Agriculture (Cciap), Adolfo Fábrega, demanded on Sunday, December 10, that the Executive Body, headed by President Laurentino Cortizo, present to the country the concrete way in which it will adjust the General State Budget of 2024.

Fábrega stated that the bill that had been presented with the budget “reflected an unjustified, suspicious, and incoherent increase of 20% with respect to 2023.”

Furthermore, the budget bill originally presented must undergo a total re-engineering through which the disproportionate and opaque amounts allocated from entities, such as the National Assembly, are sharply reduced.

On the contrary, it is appropriate to prioritize budgets such as that of the National Cancer Institute, the Children’s Hospital, and the Specialized Higher Technical Institute (ITSE), among others, which directly affect the quality of life of citizens.

The leader recalled that Panamanians demonstrated that they are not willing to continue being a mere passive spectator and have categorically demanded from both current and future authorities serious, responsible, transparent, and honest management of State resources.

“The opportunity is once again presented on a silver platter with the announced review of the General State Budget for Fiscal Year 2024,” Fábrega added.

For the Chamber, the 2024 General State Budget must be structured in a way that significantly reduces operating expenses, generating current savings and allocating resources to public investment.

Furthermore, it is necessary to significantly reduce the state payroll, eliminating as soon as possible unnecessary and duplicate positions in the public administration, which are only a vehicle for politicking and corruption.

“The data show that, at a time when the country was demanding extreme austerity in the years 2020 to 2023, payroll spending reached the worrying accumulated figure of $15,341 million,” Fábrega emphasized.

The 2024 General State Budget must focus on a responsible and efficient fiscal policy that encourages the reduction of operating expenses and prioritizes public investment, he reiterated.