Panama's Public Debt Rises 5.6%

Preliminary figures indicate public debt in 2010 closed at $ 11.585 million, $ 613 million more than in 2009.

Tuesday, January 11, 2011

If the data is confirmed, the 5.6% increase would be the largest reported since 2004.

The Ministry of Economy and Finance (MEF) estimates that the relation between debt and gross domestic product (GDP) will be approximately 42.6%, well below the 70% levels the country had during the early years of the 2000 decade," reports Prensa.com.

More on this topic

Costa Rica's Public Debt Problem

March 2013

The Comptroller General is concerned about the medium-term sustainability of Costa Rican public debt.

From a summary of a report by the Comptroller General of the Republic entitled "Analysis of Public Budgets 2013":

Status and prospects of the Costa Rican economy

In 2012, inflation and economic growth closed at 4.6% and 5.1% respectively, ranking within the ranges specified in the review of the Macroeconomic Program of July of that year. On the fiscal front, the central government implemented a $5.58 billion spending plan (24.6% of GDP) and recorded a financial deficit of 4.4% of GDP (according to the Macroeconomic Program 2013-2014), closing with a debt 35.3% of GDP, the latter indicator exceeding 50% of GDP for the public sector overall.

Panama’s Debt / GDP Ratio Still Falling

January 2013

Despite the increase in the public debt exceeding $14.5 billion, GDP growth has brought the relationship between the two parameters to less than 40%.

The strong growth of the Panamanian economy both during the Torrijos administration and the current one of Ricardo Martinelli, has seen the relationship between public debt and gross domestic product (GDP) go from 70.4% in 2004, to 39.6% according to the Ministry of Economy and Finance (MEF) as at the end of 2012.

Debt to GDP Ratio 40.5% in Panama

June 2012

This indicator has fallen 26 points since 2000 and the current public debt of the State is $13,663.9 million.

"The balance of the public debt amounted to $13,663.9 million as of 30 April this year, representing an increase of $849.7 million compared to the balance as of December 2011.

Panama's public debt close to $11 billion

July 2008

Public debt in Panama totalled 10.908 billion dollars in June, according to the Office of Public Credit Management of the Economic and Finance Department.

This was 184 million dollars higher than in May and 1.676 million dollars above the mark of September 2004, when President Martín Torrijos came to power.

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