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Panamanian Institutions Prepare Budget for 2011

PANAMA - Panamanian Institutions of the public sector began presentation of their budget proposals for 2011 to analyze the needs of each state institution in the country.

According to the ministry of Economy and Finance (MRF), 77 institutions are required to demonstrate their requirement of resources for their practice to begin in January.

In this manner MEF pointed out that the budget proposals will extend until July 9 and by yesterday the cases of the National Bank of Panama, the Colon Free Zone and Defenders of the People was set down.

Also presented were the ministry of Social Development and Maritime Authority of Panama.

At the conclusion of this phase a draft bill will be prepared for its consideration by the Cabinet Council where it will be approved.

It should then be sent by September to the National Assembly where it will be open to three debates and once backed it will be presented to the president for approval.

If this calendar is followed the general budget of the state will be available no later than January w guaranteeing a continuity of functioning of the institutions.

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