As established in Article 16, Law 34 of 2008, at the beginning of each administration and within the first six months of the mandate, a new Strategic Government Plant (PEG) must be prepared and approved, framed within the goals and targets that come up from the National Concertation. Based on Decrees 147, 148 and 149, in December 2019 the new PEG for the period 2019-2024 was approved.
Apart from an initial diagnosis outlining the country’s current situation and financial status, the plan comprises an economic and social strategy integrated by five strategic pillars: Good Governance, Rule of Law, Competitive Economy creating employment, Fighting Poverty and Inequality and Education, Science, Technology and Culture. Each strategic pillar has a series of specific goals defining the main tasks. Moreover, each goal highlights a priority action for each goal to implement on the short term with medium-term effects.
Additionally, the 2019-2024 PEG includes the Five-year Investment Plan (PQI) which outlines the investment initiatives programmed by the entities forming part of the Non-Financial Public Sector. In accordance with Article 16 of Law N° 34 on Social Tax Responsibility (LRSF), the PQI must be updated once a year. The preparation and updating of the PQI is the responsibility of the Investment Programming Directorate (DPI) of the Ministry of Economy and Finance (MEF). The PQI 2019-2024 includes 125 investment projects and programs considered priority. Each one indicates the name of the project, strategic pillar they contribute to and the entity responsible for their execution.
The PEG is aligned with the long-term objectives of the National Strategic Plan with State Vision (PEN) Panama 2030.