Panama: $112 million Budget Cut in 2013

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.

Friday, August 10, 2012

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

$14 million will be cut from the budget for the Ministry of Labor and Workforce Development (Mitradel) and $50 million for the National Customs Authority (ANA) and finally a million for the Public Registry.

"The most critical reception of the budget adjustments came from the Director of Customs, Gloria Moreno de Lopez, who revealed that this institution will have $50 million cut.



More on this topic

Panama: $9 Billion for Investments

November 2018

The 2019 budget approved by the National Assembly includes almost $9 billion for investments and $2.943 million for debt service.

Panamanian authorities informed that the approved project includes an adjustment of 350 million balboas additional to the budget initially budgeted by the Ministry of Economy and Finance (MEF).

Panama: 2011 Budget is $13 Billion

July 2010

The ministerial council has approved the state's budget proposal for the 2011 fiscal year.

The proposal is 46% capital expenditure, an increase of 4% on 2010 when it was 42%. This is consistent with the Martinelli administration's policy of prioritizing investment over operating costs.

Up to $1.000 in Seed Funding for SMEs

November 2009

In addition to non-reimbursable funds, Panamanian entrepreneurs will receive technical assistance for elaborating business plans.

Congress is discussing Law 35, which comprises the creation of the Entrepreneurship Fostering Fund. This includes a Seed Capital trust fund, and resources for Technical Assistance, Guarantees and Micro-credit.

$50 Million for Small and Medium Panamanian Companies

July 2009

The Panamanian government is allocating this amount to the development of micro and small businesses involving 546,412 establishments on the national level.

Giselle Calcagno, Minster of the Micro, Small, and Medium Business Authority (AMPYME, acronym in Spanish) commented that the fund is designated for seed capital, micro-credit, collateral funds, and for technical training and assistance.

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