The budget for 2012 is $1,000 million more than in 2011 and $3,425 million more than the year before that, 2010.

Minister Alberto Vallarino attributed the historic budget "to economic growth and the millionaire income generated by tax reforms that have given the country 'investment capacity.’"

Within the investment budget, the Ministry of the Presidency will be awarded $595 million, having responsibility for two of President Ricardo Martinelli’s flagship projects: the Metro and the Cold Chain.", published Prensa.com

The Ministry of Public Works will be assigned nearly $619 million, said Vallarino.

Source: Prensa.com

More on this topic

Panama Approves Largest Budget in its History

October 2012

The National Assembly has approved a budget of $16.28 billion for fiscal year 2013.

The project, 12% higher than that of 2012, includes investments of $6.94 billion, $7.58 billion for operating expenses and $1.74 billion for servicing debt.

The budget was prepared under a scenario of economic growth of 8% and a fiscal deficit of 2.8%.

Panama: $112 million Budget Cut in 2013

August 2012

The cuts foreseen in fiscal year 2013 will affect the Ministry of Labour, the Public Registry, Customs Authorities, Government Innovation and Small and Medium Enterprises.

For Micro, Small and Medium Enterprises (Ampyme) the cuts amount to $33 million, leaving only $22 million for investment and operation.

Panama’s Budget Increases by 13%

July 2012

The president of Panama has presented the budget for fiscal year 2013, which is 12.6% more than 2012’s.

From a press release from the National Assembly of Panama:

The bill for the general government budget for 2013 amounts to the sum of $16.268 million, an increase of 12.6% compared to the budget for 2012.

Panama: $ 13 billion Budget for 2011

November 2010

The President enacted the law approving the State Budget for fiscal year 2011.

The budget is 23% higher than the current $ 10,575 million.

EFE reports, "In the budget, 5,409.3 million will represent investments and 6,191.1 million operations, economic growth is expected at 6.5% and inflation at 3%.”