* Panama’s economy & finance minister
Héctor Alexander has presented its proposed 2020 draft state budget for US$23.32bn, US$350m less than the budget of the previous administration for the 2019 fiscal year which amounted to US$23.67bn. As regards the breakdown of the budget, 50.6% corresponds to central government expenditure directed at operating costs, 31.3% corresponds to public debt serving, and 18.1% corresponds to investments. The largest portion of the budget (US$10.19bn) is assigned to the social services sector, followed by US$214.3m to environmental and technological development.
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