Panama receives positive fiscal adjustment by rating agency Moody’s

agosto 24, 2015 3:45 pm Publicado por 3.584 Comentarios

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After the Ministry of Economy and Finance presented the results of the fiscal balance for the first half of 2015 the nonfinancial public sector (NFPS), reflecting a decline in the fiscal deficit from 4.1% of GDP, the rating agency Moody’s recently gave a positive report on the fiscal discipline of Panama.

Moody’s notes that this positive on credit for Panama, setting responds to the results of Fiscal Balance demonstrate the country’s willingness to comply with the Law of Fiscal Social Responsibility.

The report submitted in recent days by the MEF also showed an increase of B / 177 million dollars in revenues and nonfinancial public sector compared with 2015. Similarly the total expenditures had a decrease of B / 1.011 million compared to the first six months of 2014, which was B / 5.603

The rating agency also indicates that is expected to grow 6% annually in the Panamanian economy.

Currently, Moody’s maintained for Panama risk rating at BBB with stable outlook, in an investment grade rating.

Source: www.telemetro.com

Ernesto Chong de León, Ernesto Emilio Chong Coronado

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