Fiscal deficit  more than double legal limit

Hector Alexander

 
390Views 0Comments Posted 11/09/2019

Minister of Economy and Finance, Héctor Alexander told the National Assembly Budget Committee chaired by PRD deputy Benicio Robinson on  Wednesday that the fiscal deficit levels exceed more than double what the fiscal social responsibility law allows.

In addition, there are obligations payable as of December 31, 2018, for approximately $1.248 billion, without considering the accounts payable to the Social Security Fund (CSS), the amount of which is being reconciled with the entity. 

In addition, contributions from the Panama Canal Authority (ACP) for $1,844 billion are expected.

Bill No. 90, which contains the budget for 2020 presented by the Executive, totals $23.316 billion, an increase of 4.7% over the "adjusted" budget for 2019.

This is the first budget prepared by the administration of Laurentino Cortizo, who took office on July 1.

 



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