ARTICLE · 03 JULY 2018

Public Procurement In Panama

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Every year the National Assembly approves the General Budget of the State, which includes the expenditures and investments of all the public institutions.

PanamaGovernment, Public Sector

Luis Horacio Moreno IV

Javier J. Daza R

Every year the National Assembly approves the General Budget of the State, which includes the expenditures and investments of all the public institutions. It is then up to the State to execute said budget so that each entity can carry out its different tasks and functions, fulfilling the needs of the citizens.

In general, Law 22 of 2006 ("Law 22") establishes the norms, rules and basic principles that govern the contractors selection procedures and public contracts carried out by the Central Government and its entities, including financial intermediaries and corporations in which the State owns 51% or more of its shares or assets, as well as those that are carried out with public funds or national assets.

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