President José Raúl Mulino announced that he will initiate consultations with his work team on the issue of the Copper Mine, while reporting on the visit of Colombian President Gustavo Petro, and denied a possible tax reform or tax increase.
The Panamanian president assured that his government has not yet had confirmation of the suspension of the arbitration demands of the company First Quantum to the Panamanian State, so there is still no meeting scheduled with mine entrepreneurs. Although he acknowledged that the procedures can take weeks.
However, Mulino already has prepared his first meeting with State advisors on the mining issue. He also brought forward a meeting with representatives of the Panama Mining Chamber to address mainly the issue of suppliers.
Mulino also announced the visit to Panama next week of his Colombian counterpart Gustavo Petro with whom he said he will address issues such as migration through the Darién and the electrical interconnection between the two countries.
On the other hand, he expressed “He who does not work does not eat” as a direct message to unions and leaders who have announced demonstrations this Friday in opposition to the approval of Law 462 that reforms the Organic Law of the Social Security Fund (CSS).
Mulino’s expression is given by a call of the unions on a labor day. “He who does not work will be discounted,” he said. He also hopes that the demonstrations and demonstrators do not cause obstacles on public roads.
When asked about the country’s financial situation and if its strategy is a tax reform, he said: “The answer is no, they are not thinking about a tax reform or any type of tax, what is being done is an effort to raise more,” said the president.
He explained that he understands the financial situation of the State, since the deficit closed with 7.3 which he considers very high and the intention is to take it to 4% by the end of the year. He added that in a way the deficit was also caused by an advance tax collection by the previous Government.
“The previous government collected in advance, something that is illegal and undue 2024 taxes. It’s clearly unconstitutional,” he said
Even so, Mulino made it clear that his government’s strategy will be based on spending containment. “It is the only way to have credibility, maintain the degree of investment and be able to have a softer fiscal space in 2027 than we currently have.
The president also said that there are 25 companies interested in the tender for the repair of the runway of Tocumen International Airport.
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But they still have employees that never work and have other full time jobs they just collect free checks from the government