LAST MINUTE changes to the Fiscal Responsibility Act have given the government have more space for public spending in the current year. The new fiscal deficit level will be 4.1 percent up from 2.7percent.

The original text, proposed by the Ministry of Economy and Finance (MEF) and approved on first reading in the National Assembly, presented an  increase in  fiscal deficit-the difference between revenue and expenditure of Government to 3.9%. But in the document approved on third reading, October 24 the new cap figure deficit for this year is 4.1%. reports La Prensa

This means that in the whole of 2014, the government will spend about $1.945 billion more than it receives. an additional $95 million to the provisions of the text in in the first debate.

When consulted, the Minister of Economy and Finance, Dulcidio De La Guardia said that the last change was introduced by the Assembly and that the original proposal of the MEF was 3.9%.

In 2008, when the Law of Fiscal Responsibility was approved a deficit limit of 1% for all subsequent years was stipulated, but  the Government amended the rule to raise some parameters whose primary goal had beento contain public spending .Panama fiscal deficit raised to aid public programs
LAST MINUTE changes to the Fiscal Responsibility Act have given the government have more space for public spending in the current year. The new fiscal deficit level will be 4.1 percent up from 2.7percent.
The original text, proposed by the Ministry of Economy and Finance (MEF) and approved on first reading in the National Assembly, presented an increase in fiscal deficit-the difference between revenue and expenditure of Government to 3.9%. But in the document approved on third reading, October 24 the new cap figure deficit for this year is 4.1%. reports La Prensa
This means that in the whole of 2014, the government will spend about $1.945 billion more than it receives. an additional $95 million to the provisions of the text in in the first debate.
When consulted, the Minister of Economy and Finance, Dulcidio De La Guardia said that the last change was introduced by the Assembly and that the original proposal of the MEF was 3.9%.
In 2008, when the Law of Fiscal Responsibility was approved a deficit limit of 1% for all subsequent years was stipulated, but the Government amended the rule to raise some parameters whose primary goal had beento contain public spending .