Chamber of Commerce demands State austerity

 As protestors from multiple sectors gathered  Tuesday for another demonstration Panama’s  Chamber of Commerce, Industries, and Agriculture of Panama (Cciap) demanded containment and control of public spending, austerity, and transparency in the management of finances, by the three State organs.

The call came amid citizen protests and road closures in all provinces of the country due to the rise in the prices of fuel, food, and medicine, as well as the increase in public spending, in the midst of the pandemic.

Marcela Galindo De Obarrio, president of the Cciap, said that it is “unacceptable to contract more public debt to finance the current operating expenses of the State, especially in a situation of increased payroll without justification.”

She  added that the debt should be prioritized for investments that translate “into jobs, productivity and competitiveness.”

For the Cciap, it is “imperative” that both the Executive and Legislative Branches “apply measures to contain public spending, such as the freezing of hiring of non-priority officials, suspension of paid licenses, cutting expenses vertically, especially, mobilization of high-ranking officials”.

It also asks for cuts in travel, celebrations, and the hiring of new consultants and advisors. In addition, in the midst of a respiratory pandemic, the payroll has increased, both in quantity and cost.

“As we have pointed out on multiple occasions, it is unsustainable to continue increasing state spending at a time when tax collection has decreased as a result of the pandemic,” the Chamber stressed.

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