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LatinNews Daily - 28 October 2022

In brief: Panama’s 2023 budget approved

*Panama’s 71-member unicameral legislature has approved the country’s budget for 2023 for US$27.57bn. This is up from the US$25.29bn that was approved for 2022. The budget was approved with 58 votes in favour four against. The final budget approved is up from the initial version which was for US$27.16bn, which already drew concerns from Panama’s leading business lobby Cámara de Comercio, Industrias y Agricultura de Panamá (CCIAP) about the increase in spending which the government led by President Laurentino Cortizo had justified in terms of the need to cover the results of the negotiations it was holding with protest groups over soaring living costs.

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