Panama's fiscal deficit will expand in 2015 as slowing economic growth weighs on revenues while simultaneously spurring an acceleration in government spending. The country will continue to run sizeable deficits over the medium term (2016-2020), persistently missing its fiscal consolidation targets and increasing the probability of a sovereign credit downgrade by the ratings agencies.
Panama's Short-Term Political Risk Index score of 71.0 reflects a high level of security stability and policy continuity. While new President Juan Carlos Varela has introduced small changes to Panama's previous programmes, on the whole he has not deviated from Panama's long-term policies. Further, while a modest uptick in narcotrafficking activity may pose problems in the future, it has not yet...
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