The Cabinet Board adopted on Wednesday, July 29, the general state budget for fiscal activity 2027, amounting to $35,111,075 million.
That’s an increase of $210.9 million from the current budget, said Minister of Economics and Finance Felipe Chapman.
“That with the goal of complying with the Social Tax Responsibility Act with a deficit of less than 3%, with its target as defined in this budget at 2.97% of gross domestic product,” he said.
Chapman explained that an amount of $12,564 million was dedicated to investments, including “financial and physical investments, which are most of this total.” He argued that investments would increase by $1,375 million as compared with the 2026 budget.
In the run line, they will be dedicated for next year $22,547 million.
“That means that 64.2% of the budget will be for operation and 35.8% for investment,” he added.
On capital investment, he detailed that the amount assigned was $7,065 million.
“That accounts for more than 7% of gross domestic product estimated for 2027. That puts this level of investment among the highest in the world,” he said.
The Labour Minister, Jackeline Muñoz, also spoke at this afternoon’s conference.
She stated that this semester alone saw an increase of 22% in recruitment, or 174,383 new contracts.
“We have a market in recovery. Today our unemployment figure is no longer two digits. It’s about 9.1, we’re expecting validation,” she said.
Concerning the main works to be dedicated to this budget, the Minister and Secretary of Meas, José Ramón Icaza, referred to the extension of the **International Airport at Isla Colón **, the continuation of the logistics and customs integration project, the completion plan of potabilization plants, the aqueduct program and the completion of David’s sanitation system, Chiriquí.
In education, he stated that the programme for the strengthening of technologies for schools and the construction of schools in several provinces was currently under way.
In transport, he highlighted the Metro Line 3 project, with its completion scheduled for late 2028.
In addition, the necessary resources have been allocated for the bidding and subsequent construction of the cable at San Miguelito.
He highlighted the restoration of fortifications at Portobelo, Colón, as well as the continuation of the rehabilitation project of the Church of St. Philip and the chapel of St. John of God.
It also includes a rescue project at Reina Torres de Araúz Anthropological Museum, which will be completed next year.
“At MOP we have probably the most important portfolio of projects,” he said.
The projects include the continuation of the 4th Bridge, the rehabilitation program “Tapa Hocas,” the construction of pitted bridges, the extension of the Beaches Corridor, the Santiaga-Soná way, the Macaracas- Tonosí road and the extension of the Spanish way, among other works.
About which entities have an increase in their budgets, Chapman said that 90% will notice an increase.
“That’s a conservative gain,” he said.
He recalled that there are special laws that require an automatic increase, especially in the line of operation.
“Operating spending will not come down, unless a drastic measure of mass redundancies is taken,” the Minister added.
He stated that more than 90% of the increase was explain by the investments currently being made by the State.
Chapman submitted his draft budget to the plenary session of the National Assembly in the afternoon.
