An increase of $15.5 million in the budget of the Mayor’s Office of Panama was recorded for fiscal year 2024, compared to the 2023 budget; This year the municipality of Panama approved a total budget of $325.5 million dollars, which is worrying because according to estimates it will not be possible to raise this amount.
According to estimates, collections by December 2024 will barely reach $203 million, representing a decrease of $122 million in collections compared to what was budgeted.
Internal reports from the capital Municipality indicate that finances are in the red and everything indicates that the main reason is the increase in the payroll where the number of officials has doubled.
The current municipal administration also leaves a debt in accounts payable and municipal decentralization, which exceeds $150 million.
