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Saturday, May 25 2019 @ 10:52 AM UTC

De Lima Promises No New Taxes During Remainder of Martinelli Administration

Money MattersAfter president Ricardo Martinelli announced that by 2014 the benefit program "$100 for 70" will be increased by $20 dollars, the Minister of Economy and Finance, Frank De Lima, said there will be no new tax increase for citizens to obtain the funds and continue payments.

De Lima said on RPC Radio there would be no new taxes in this administration, because during the years 2009 and 2010 there were two tax reforms, which has allowed the government to implement an investment plan of more than $13 billion dollars, more than during the previous administration.

De Lima said when they start the process of preparing the budget for 2014, the new amount of funds required to fulfill the promise made by the president will be taken into account.

For his part, National Assembly Deputy Alcibiades Vasquez, a member of the Budget Committee from the Panameńista political party, regretted that the president is making such promises, because by 2014 many of the projects currently being built in the country will come to maturity. He said other state agencies have been given budget cuts, especially the Ministry of Social Development (MIDES), would deter investment in different programs developed by the institution. (Panama America)

Editor's Comment: What? MIDES was given more than $320 million dollars in this year's budget. And the only thing this Ministry does is basically give away money. Martinelli is backing the MIDES Guillermo Ferrufino as the CD's presidential candidate for the 2014 elections, and he's got a whole lot of money to give away in order to generate good will. This "$100 for 70" program is run by the MIDES, and a promise of an increase of an additional $20 bucks in 2014 (election year) is basically just a flat out vote buy. Want more money? Vote for us. The CD has the geezer vote locked up.

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