Panama Failing to Meet Fiscal Deficit Target

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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