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Panamanian deputies spot shortcomings in National Budget

Panama City, Oct 23 (Prensa Latina) Deputies of the Budget Commission returned to the Panamanian Government the proposal of funds for the fiscal year 2025, assuring that it has flaws and incompatibilities.

According to legislator Manuel Cohen the bill, which has been reviewed twice, after a first assessment by the president, does not comply with the law stipulating that no less than seven percent of the country’s Gross Domestic Product (GDP) should be allocated to public expenditure and investment in education.

It should also include the amounts to be allocated to the municipalities and community boards, as well as the one set apart to subsidize liquefied petroleum gas and the preferential interest for mortgages.

In turn, Deputy Raúl Pineda, of the Revolutionary Democratic Party, described the budget bill presented by the Minister of Economy and Finance, Felipe Chapman, as unconstitutional and running contrary to grass roots power.

Independent deputy Augusto Palacios said the National Assembly (unicameral parliament) is not rejecting the budget bill, but suggesting it be amended instead.

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