April's revenues disappoint. Martinelli faces a key trial for his political career. A new player: left-leaning economist Maribel Gordon is currently the third independent candidate for the presidency.
The NFPS deficit in the first quarter exposed a shortfall in tax collection due to a decline in government revenues. Government expenditures continued to rise, while sales tax revenues fell below expectations, the budget, and last year's performance. The authorities provided a partial explanation for these results, with hopes pinned on future events such as new mining revenues and the sale of lands to the Canal. However, the realization of these revenues is still at an early stage. Meanwhile, the trial of Ricardo Martinelli, known as the "New Business" trial, starts today, posing a potential threat to his political aspirations for 2024. Moreover, the left-wing now has a chance to participate in the 2024 elections with Maribel Gordón, who currently ranks as the third most supported independent candidate. Lastly, Panama lacks accurate and timely fiscal reporting, resulting in poor fiscal account timing and quality.
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