Government Releases Growth Estimates

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The government of Panama estimates that its revenues will grow 42.5 percent over the next five years.
Panama Strategy
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The government of Panama estimates that its revenues will grow 42.5 percent over the next five years.

The estimate was endorsed by the Cabinet Council through the publication of the document "Medium Term Fiscal Framework of the Non-Financial Public Sector for the period 2018-2022.

" The publication indicates that for this year, the current revenue of the central government will be $8.443 billion, while it estimates that for the year 2022 it will be $12.14 billion. In terms of gross domestic product (GDP), the authorities estimate that at present it is $59 billion, and by 2022 it will be $89 billion. The document also points out that Social Security revenue is expected to grow from $3.545 billion to $4.93 billion by 2022.

The Ministry of Economy and Finance is bound by law to publish five year economic projections in the first quarter of every year.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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