{"id":12228,"date":"2014-12-16T13:45:16","date_gmt":"2014-12-16T18:45:16","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=12228"},"modified":"2014-12-16T13:45:16","modified_gmt":"2014-12-16T18:45:16","slug":"panamas-6-5-growth-in-2015-is-reasonable-oppenheimer-says","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panamas-6-5-growth-in-2015-is-reasonable-oppenheimer-says\/","title":{"rendered":"Panama’s 6.5% growth in 2015 is reasonable, Oppenheimer says"},"content":{"rendered":"

\"canal<\/a><\/p>\n

The Legislative Assembly approved President Juan Carlos Varela\u2019s first budget. The budget intends to take the fiscal deficit from the -4.1% of GDP expected for this year to -2% of GDP as established by the Fiscal Responsibility Law (FRL).<\/p>\n

The budget also assumes economic growth of 6.5% in 2015, which we deem reasonable.<\/p>\n

Inaugurated in September, Varela inherited former President Martinelli\u2019s 2014 budget, but higher expenditure and lower revenues pushed the new administration to ask the Legislative Assembly to raise the fiscal target from -2.7% of GDP to – 4.1%.<\/p>\n

The fiscal consolidation implied in the budget should not be difficult to achieve through an adjustment of public investment, which under the prior administration averaged 9% of GDP, and helped by a vibrant economy. In addition, the president has pledged to comply with the FRL, improve public spending efficiency and procurement, issues that were part of his electoral platform and will be key for Panama to achieve a higher rating status.<\/p>\n

SOURCE:
\nOppenheimer
\nEmerging Markets Sovereign Fixed Income Research
\nDecember 2, 2014<\/p>\n","protected":false},"excerpt":{"rendered":"

The Legislative Assembly approved President Juan Carlos Varela\u2019s first budget. The budget intends to take the fiscal deficit<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12228","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"\nPanama's 6.5% growth in 2015 is reasonable, Oppenheimer says - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panamas-6-5-growth-in-2015-is-reasonable-oppenheimer-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Panama's 6.5% growth in 2015 is reasonable, Oppenheimer says\" \/>\n<meta property=\"og:description\" content=\"The Legislative Assembly approved President Juan Carlos Varela\u2019s first budget. 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