TODAY PANAMA NEWS — The National Assembly has approved raising the maximum limit for government borrowing to 4.1% of GDP, above the 3.9% originally requested by the Executive.

maersk-ship-in-panama-canalThe Assembly amended the project which initially envisaged raising the limit on the fiscal deficit from 2.7% to 3.9%, to bring it up to 4.1% of GDP.

‘… This means that in the whole of 2014, the government will spend about $1.945 billion more than it earns, $95 more than was provided for in the text approved in the first debate. ”

Dulcidio De La Guardia, Minister of Economy and Finance, told Prensa.com that “… The latest modification was introduced by the Assembly … the original proposal by the MEF was 3.9%. ”

Source: Today Panama