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Panama slashes subsidies by $250 million

Thursday, June 29, 2017

Panama’s government subsidies fell in 2016 by 15 percent  or $244.2 million to  just under $1.4 billion largely due to falling energy prices.
The level of subsidies granted last year is similar to 2013, when $1.3 billion  were disbursed.

The reduction in relation to the last two years is explained by the adjustments made to the policies of the subsidy, favored in part by lower energy costs  The amount paid in 2016 for electric subsidies was $32.4 million, which is a reduction of 81 percent or $143 million compared to the expense of the previous year.

Source: Newsroom Panama