The Minister of Economy and Finance, Felipe Chapman, decided to withdraw Bill 122, which dictates the General State Budget for the fiscal year 2025, after listening to the arguments presented by the Budget Commission, in its legislative technical report.
According to the technical report, the budget project was presented out of time by the Executive Branch, contrary to what is dictated by article 184, paragraph 7 of the Constitution, “When there is a change of government, it must be delivered within the first 40 days of sessions.” .
Also, regarding the financial limit of the estimated fiscal deficit, since it is greater than 3% of GDP, which does not comply with Law 185 of 2020, which establishes that, from the year 2025, onwards the financial limit of the fiscal deficit It must be below 1.5% of GDP, among other elements. Due to non-compliance with Law 362 of 2023, which allocates 7% of GDP to the educational sector. In addition, it affects the execution of social investment projects such as health, water, housing, road networks and education, which represents a decrease of 4,437.1 million balboas, compared to the previous year.
Chapman asked the commission to withdraw the budget project, in compliance with article 119 of the Organic Regulations of the Internal Regime of the National Assembly.
He pointed out that, in order to comply with the spirit of the Constitution in harmonious collaboration between the organs of the State, they will carry out a thorough examination of the observations presented today by the Budget Commission, chaired by Congressman Sergio Gálvez, in a manner such that, as a result of this examination, changes can be proposed to the budget bill for 2025.
