BRIEFS. financial

Varela calls for a more up-to-date 2009 budget

Presidential candidate for the Partido Panameñista Juan Carlos Varela has demanded that President Martín Torrijos order an immediate suspension of the discussion over the 2009 general budget for 2009, which has been estimated at $9.7 billion.

In a statement issued upon his return from a visit to Bogotá, Varela argued that the budget was drafted several months ago, with data and speculations that have already been become out-of-date by the country’s actual economic condition.

Varela suggested that authorities take into account the global economic crisis when drawing up the budget. By doing this, he added, the country can be adequately prepared for the possible implications of another potential large-scale downturn in markets worldwide.

In recent panel on the crisis that aired on Channel 11, banking superintendent Olegario Barrelier urged the banking sector to proceed with caution, keeping a steady path in order to strengthen its relationship with consumers.

Juan De Dianous, manager of the Banco Nacional de Panamá, advised citizens to stay informed about the crisis and recommended that consumers change their spending patterns without removing their money from local banks.