Government revenues forecast to grow 42.5% in 5 years

PANAMA  GOVERNMENT   revenues will grow 42.5% over the next five years according to estimates endorsed by the Cabinet Council and published in the official Gazette.

The publication indicates that for this year, the current income of the Central Government will be $8.443 billion and in the year 2022 it will reach e $12. 34 billion.

The Gross Domestic Product (GDP is currently estimated at $5.9 billion, and by 2022 will reach  $8.9 billion (+ 50.8%).

The document containing the figures also states that by 2017 the Social Security Fund is expected to have income of $3. 545 billion, a figure that would grow 39% to $4.930 billion by 2022.

The estimates were published in the Official Gazette because Law 34 of June 5, 2008 rules that during the first four months of each year, the Ministry of Economy and Finance should make public the Macroeconomic projections for the next five years.