Donnerstag, 11. Februar 2010

Panama's 2009 Budget Deficit At 1% Of GDP From Surplus In 2008

DOW JONES NEWSWIRES

The Panamanian government's budget ended last year with a deficit equivalent to 1% of the country's gross domestic product, or $250 million, the Panamanian government said late Wednesday.

The government had posted a surplus equivalent to 0.4% of GDP in 2008.

Panama's Finance Minister Alberto Vallarino said the budget deficit is positive given the difficult situation in the year.

The Panamanian economy slowed down in 2009 after growing 10.7% in 2008. In the third quarter of last year, the last data available, the country's GDP only expanded 1.1%.

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