Government revenue and deficit fall

WHILE Panama’s government revenues for the first half of 2015 fell 3 percent compared with the same period last year, expenditures also fell and the deficit showed a sharp decline.

 At a Wednesday, August 12, press conference, Minister of Economy and Finance,Dulcidio De La Guardia, announced that total revenues for the first six months were $2.98 billion.
During the same period, expenditures were $4.31 billion, 16 percent less than last year and the deficit fell from 4.1 percent of gross domestic product (GDP) in the first half of 2014 to 1.5 percent of GDP this year.
“There has been order in public finances,” De La Guardia said.