Businessmen Asking for Strict Control of Public Spending

The Chamber of Commerce, Industries and Agriculture in Panama has reiterated the need for prudent management of public finances and effective control of state spending in order to avoid overspending or an increase in the fiscal deficit.

Wednesday, August 8, 2012

A press release from the Chamber of Commerce, Industry and Agriculture of Panama (CCIAP) reads:


Faced with the presentation of Bill No. 499, which dictates the general government budget for fiscal year 2013, our union is reiterating the need to maintain fiscal discipline, prudent management of public finances and effective control of state spending in order to avoid overspending or an increase in the fiscal deficit.

The strength and diversification of our economy, allows for a continued positive outlook in the projections for the short and medium term to the end of this year, however, the international context is extremely complicated, making it necessary to prioritize caution in management of state assets in order to preserve resources and sustain growth and have a sustainable economy.

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