Tax revenues are not meeting the levels predicted at the beginning of the budget year, which seems likely to mean that Panama's fiscal deficit will go above the target of 2% of GDP set for the year

Revenue from taxes on income and real estate are the main sources where collection levels are below projections.

New predictions announced by Mahesh Khemlani, the Panamanian Vice-minister for finance, state that the difference between government expenditure and revenue could reach 2.2% or 2.3% of GDP.

Source: Prensa.com

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Costa Rica: Fiscal Deficit Closes 2016 at 5.2% of GDP

January 2017

In comparison to 2015 revenue grew by 9% and expenses by 6%, and total public debt as a proportion of GDP reached 45%.

From a statement issued by the Ministry of Finance:

The figures for income and expenditure of the central government indicate that by the end 2016, the shortfall of government revenue to cover expenses was 5.2% of GDP, less than the 6% calculated at the beginning of the year and less than the amount that was observed in 2015 (5.7%). This result represents a reduction of 2% (equivalent to ¢32 billion) from the deficit of 2015, which makes it the lowest deficit in the last four years.

Costa Rica: Tax Panorama - February 2016

March 2016

The 8% growth in total government revenue was not enough to reduce the financial deficit, which at the same period reached 1% of GDP.

From a statement issued by the Ministry of Finance in Costa Rica:

By February 2016, the increase in expense figures was lower than those shown in the growth of tax revenues.

Costa Rica: Fiscal Deficit Reaches 4.8% of GDP

November 2015

State expenditures continue to exceed tax revenues while the government cries out for legislative approval of the proposed tax reform.

In October, total revenues amounted to ¢3,241,326 million ($6,047 million), recording a variation of 8.5%, while total expenditures reached ¢4,589,189 million ($8.561 billion), growing 9.6% compared to the same period in 2014.

Panama's Tax Figures up to June 2013

August 2013

In the first half of the year Central Government revenues increased by 7.5% compared to the same period in 2012, totaling $3.043 billion.

The fiscal balance published by the Ministry of Economy and Finance in Panama:

Fiscal performance of Central Government income:

Total revenues amounted to $3.0433 billion, representing growth of 7.5% compared to the same period in 2012.