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Thursday, August 21 2014 @ 05:59 PM EDT

MEF Will Cut $170 Million From 2012 Annual Budget

Money MattersThe Minister of Economy and Finance, Frank De Lima confirmed that at least $170 million dollars will be cut from the 2012 budget. He also said the government would not be buying any new cars this year, that they would be cutting travel expenses, but he did not rule out the possibility that the government still might sell land in Farfan and Amador. Within these $170 million, he broke it down to cuts of $110 million in operating costs and $60 million in investment projects. (TVN)

Editor's Comment: This morning the former Minister of Economy and Finance Alberto Vallarino was on TVN, defending himself against claims he was responsible for putting together the 2012 budget. Vallarino is one of the Panameņistas who resigned in September 2011, after the breakup of the alliance between their party and the Cambio Democratico. It was sort of funny watching Vallarino squirm, saying how the budget was approved by the entire executive Cabinet Council (although he did put it together), signed by the President, and passed by the National Assembly, all controlled by the CD. However - yeah - it was his plan, including the part about the $400 million dollars they expected to get from selling the state owned shares in the electrical and telecommunications companies. Whoops.

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MEF Will Cut $170 Million From 2012 Annual Budget | 1 comments | Create New Account
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MEF Will Cut $170 Million From 2012 Annual Budget
Authored by: Anonymous on Thursday, June 28 2012 @ 09:48 PM EDT

Don, why cant u just admit, as u have many times be4 that Migracion de Panama just plain sucks..........they dont have a clue as to the importance of displaying a nice friendly face at the most important entry points of Panama.......I really thought this would have been addressed by your buddy Martinelli a long time ago, but it has not......and here in Paso Canoas, if possible, it is even worse........admit it, this lady was a victim of official panamanian ignorance and lack of sense of service and public relations........sometimes Im surprized that this country has any tourism at all..........................