The fire of the Legislative Palace and the capture of more than 30 people, is the balance of the violent demonstrations that took place on November 21 in the capital of the country, after a discontent was generated due to the approval of the National Budget 2021.
During the early morning of November 18, the Congress of the Republic approved the Income and Expenditure Budget of the State, which amounted to approximately $12,815 million.
The Alvarado administration presented to the Legislative Assembly the draft public budget for 2020, which will be 4.3% lower than 2019, thus representing the largest spending reduction in recent years.
A decrease in current spending, as well as a decrease in public sector institution positions and salaries, allowed the central government budget for 2020 to be lower than this year's, the Assembly reported.
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).
According to a MEF statement, from this total, $8,996 million are for investments, another $11,930 million will be used for the functioning of the State, and $2,943 million for debt service.
The budget presented to the Congress includes $146 million for the construction of the El Chaparral hydroelectric plant, and $83 million for road maintenance.
From the statement of the Ministry of Finance:
September 28th, 2018. Head of the Ministry of Finance, presented to the Legislative Assembly the project of the General Budget of the State for Fiscal Year 2019, which amounts to $6,733.2 million, approved by consensus and with unanimous agreements, in the Extended Council of Ministers, called and presided over by the President of the Republic, Professor Salvador Sanchez Ceren.
The proposal put forward by the Varela administration to the Assembly includes $5.225 billion for investment projects and $2.581 billion for servicing debt.
The Ministry of Economy and Finance reported that "... the proposal includes important public investment works, such as the Panama Metro ($582.8 million), the Fourth Bridge over the Canal ($288.7 million), Roofs of Hope ($163.6 million), Urban Renovation of Colón ($98.4 million), Sanitation of the Bay ($108.2 million), potable water and sewerage projects ($179.1 million), construction of hospitals and polyclinics in Colón, Darién, Veraguas, Chiriquí and Los Santos ($319.5 million), among other things."
With the adjustment approved by the National Assembly, the lines for repairing roads, drinking water supply and medical services, among other thing, will be increased.
From a statement issued by from the National Assembly:
Today the National Assembly approved a Law to Modify the Annual Law of the General Budget of the Republic 2017, whose adjustment increases expenditures for the fiscal year by more than 482 million cordobas.
40% of the $20 billion approved by the Legislature for the next year's budget will be allocated to investments.
Bill 225, which dictates the general state budget for fiscal year 2016, amounting to 20 thousand 106 million balboas, was approved on its third reading by the plenary of the National Assembly.
Of the total budget of 20 thousand 106 million balboas, 41 percent is for investments, ie more than 8 thousand million balboas, Barria said.
"There are many ways to define populism, but perhaps the most accurate is that it is a form of social and economic demagogy that sacrifices the future of a country for a fleeting present" - Mario Vargas Llosa
Editorial
In fits and starts, the president of the Legislative Assembly of Costa Rica has approved the state budget for 2015, after a majority of legislators voted against it, in an arbitrary exercise supposedly covered in a legal vacuum on the subject. Previously, the Assembly had rejected three different motions containing spending cuts in the budget, including one generated from the very same Ministry.
While the budget increases, the Solis administration is requesting World Bank loans to cushion the public debt, transferring the weight of the expenses to future Costa Rican generations.
EDITORIAL
The Ministry of Finance has asked the multilateral technical assistance agency to analyze the country's debt policy and for an additional loan, the amount of which is still unknown, in order to pay part of the interest on the state's current debt.
The technical redefinitions that make up a successful tax reform should be based on a reformulation of the social contract which establishes national goals.
Nacion.com reports that "According to Augusto de la Torre, Chief Economist at the World Bank, the fiscal debate is more than just an economic debate, it is almost a philosophical debate about the kind of state we want to have."
Congress has unanimously endorsed the National General Budget for 2014 with an increase of $174 million compared to 2013.
From a press release issued by the Legislative Assembly of El Salvador:
The National Assembly has unanimously passed the General Budget of the Nation and the corresponding Wages Act for Fiscal Year 2014. The decision indicates that it be "primarily oriented towards social areas so that El Salvador can have a population that is healthy, educated and productive with skills and opportunities to fully develop their potential and become the social basis of national development ".
Authorities suggest the Guatemalan State should invest in these types of projects to bring in additional revenue.
This was the suggestion made by the finance chief, Pavel Centeno to the Guatemalan Congress during his explanation of the draft budget for 2014. "We have to look at investment in mining and hydropower in order to reduce the oil bill we pay for energy.
The increase in the 2013 budget will be used in the 2014 regional elections in the Caribbean and investment in social projects, defense and other things.
According to Congressman Walmaro Gutierrez, reform to the General Budget of the Republic by the Executive includes adding revenues of $38.9 million to the 2013 budget.
"Last December Nicaraguan Congress approved a budget for 2013 of $1.8823 billion in revenue, up 10.8% from 2012, and with a fiscal deficit of $102.5 million," noted an article in Aguasdigital.com .
The draft budget for 2014 is 3.9% higher than what that the Salvadoran Congress approved for 2013.
From a press release issued by the Presidency of El Salvador:
The Cabinet today approved the draft 2014 General Budget of the Nation in the amount of $4.679 billion during a meeting at the Presidential House headed by the President, Mauricio Funes.