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Panama's deficit exceeds authorized limit

Thursday, August 14, 2014

Panama's non-financial earnings grew 1.5 percent in the first six months of the year, compared with the same period last year, the Ministry of Finance said.

But public spending grew 13.6 percent, creating a deficit of 3.2 percent.

The deficit surpasses 2.7 percent limit of the gross domestic product allowed by the government.