Panama: An Overview of Public Finances

The deficit of the Central Government's Total Balance up to March 2019 is $1.267 million, 1.8% of GDP, above the 1.4% recorded at the end of the first quarter of 2018.

Tuesday, May 14, 2019

Total revenues with fiscal documents of the Central Government up to March 2019, totaled $1,618 million, with a 7.1% decrease with respect to March 2018, explains a report of the Ministry of Economy and Finance.

The document states that "... Tax revenues up to March 2019 reached B/.1,347 million, decreasing by 3.2% compared to 2018, while non-tax revenues reached B/.271 million, decreasing by 22.6% compared to the same period in 2018.

In the first quarter of 2019, total expenses increased B/.237 million, or 9.0% with respect to the same period of 2018. Up to March 2019, current expenses reached the figure of B/.1,935 million, increasing B/.204 million, or 11.8%. Preliminary capital expenditures reached B/.950 million by March 2019, representing 1.4% of GDP.

On the other hand, non-tax revenues decreased B/.79 million compared to the same period in 2018, or 22.6%. In the first quarter of 2018, B/.22.6 million was received, corresponding to the additional assignment of radio spectrum frequency of the Digicel concessionaire, in addition to contributions and dividends that should be transferred to the Treasury in the coming months.

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More on this topic

Panama: Public Spending Up 30%

May 2018

In the first quarter of this year, total expenses of the Non-Financial Public Sector increased by 30% with respect to the same period in 2017, mainly explained by an increase in current expenditure.

From a statement issued by the Ministry of Economy and Finance:

May 9, 2018.

Panama: Tax Figures - I Semester 2017

August 2017

Total revenues from the central government grew by 2% compared to the same period in 2016, while total expenditures fell by 2.1%.

From a statement issued by the Ministry of Economy and Finance:  

Total revenues of the Central Government for the first half of the year amounted to B/3,537 million, that is to say they increased by B/.64 million or 1.9% with respect to the same period in the previous year, explained the Minister Of Economics and Finance, Dulcidio De La Guardia today in press conference.

Panama: Tax Figures as of March 2017

May 2017

In the first quarter total expenditures in the non-financial public sector decreased by 12% compared to the same period in 2016.

From a statement issued by the Ministry of Economy and Finance:  

The non-financial public sector (SPNF) recorded revenues of 2,828 million balboas and expenses of 2,623 million Balboas, a positive balance of 204 million balboas in the first quarter of 2017, according to the Fiscal Balance presented today by the Ministry of Economy and Finance.

Panama: Fiscal Revenue Up 15%

September 2012

The amount of revenue accrued by the state in 2012 up to August is $494 million more than the revenue from the same period in 2011.

From a statement from the Department of Revenue (DGI in Spanish):

Current Income:

Current revenue during August totaled B/.420.2 million, exceeding by B /.

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