OPINION:  Presidential Candidates Pie in the Sky

1,251Views 0Comments Posted 01/03/2024

The Tourism Promotion Fund (Promtur) is the entity in charge of promoting tourism to Panama abroad. It is expected to receive at least $20 million annually to carry out this work. However, due to adjustments in the 2024 budget, only $10 million was allocated for this year. This amount is planned to be used in the first six months, which implies the need to obtain the other $10 million for the rest of the fiscal year. It is ironic that, in one way or another, all presidential candidates are proposing investments in the tourism sector as part of the solution to the income crisis facing the country. This is proposed to generate new jobs and compensate for the income that will be lost with the closure of the Donoso copper mine. To complete the $20 million budget allocated by law, the Panama Tourism Authority plans to request a supplemental credit. This is done with the intention of not losing the momentum achieved in recent years in promoting the country as a tourist destination, a demand supported by businessmen and unions in the sector. The Government's priority seems clear: allocate funds for re-election, but without providing incentives for the fragile economic growth projected in 2024. – LA PRENSA, Mar 1.

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