PANAMA’S deficit in the non-financial public sector in the first half of the year was fell to  $519 million compared with the $647 million deficit in the first half of last year and GDP projections coninue to be  the envy of most countries.

The deficit represents 0.2 percent of the country's gross domestic product (GDP), while in the same period of last year was 1.2 percent of GDP, said Minister of Economy and Finance Dulcidio de la Guardia.

Revenues were $5.6 billion in the first six months, an increase of $595 million (11.8 percent).
Tax  revenues in the first six months were up  12.3 percent or $304 million more than the same period last year.

Better tax collection methods played  a role in  the improved figures

INVESTMENT
Public investment spending  rose to $1 .589 billion in this period, representing 3% of GDP, to give greater impetus to the flagship projects of the Government in progress such as Metro Line 2, Road construction projects , urban renewal in Colon and the ,Amador Convention Center, among others

The latest projection of the growth of the GDP of Panama for 2016, according to the International Monetary Fund, is 5.7 percent, while the Economic Commission for Latin America and the Caribbean (ECLAC) projected an increase of 5.9 percent. Either figure would be gladly welcome by ny of the world’s major economies.