February flash: MEF complies with deficit ceiling and important Panama Canal Authority news

PANAMA - In Brief 11 Feb 2019 by Marco Fernandez

Fiscal PerformanceAccording to the Ministry of Economy and Finance’s (MEF) latest publication, the deficit of the non-financial public sector (NFPS) represented 2% of GDP for fiscal year 2018, thus barely hitting the ceiling of the Fiscal Social Responsibility law (FSRL). In November, we estimated that complying with the FSRL would represent a very difficult task since up to Q3 the non-financial public sector deficit was 5.1%. Unexpectedly (or perhaps not) the final numbers where exactly on the limit. Therefore, the numbers should be analyzed with caution: Revenues from the non-financial pu...

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