Panama's Tax Figures up to June 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.

Monday, August 19, 2013

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.
The improved state of income is explained by two factors:

• An increase in the current income of $119.5 million, primarily due to an increase in tax revenues.

• A capital income budgeted amount of $89.8 million from the sale of land to the ACP Corozal to build a future container port.

Fiscal Performance of Central Government expenses:

In June 2013, capital expenditures amounted to the sum of $1.9565 billion, which represents 4.8% of GDP.

The Central Government's total expenditure increased by 12.1% compared to June 2012.

On the other hand, current expenditures increased by $216.7 million, in which were highlighted subsidy payments such as those for the program 100 to 70, the provision of uniforms, and textbooks, and electricity subsidies, among others.

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