Panama recorded a Government Budget deficit equal to 4 percent of the country’s Gross Domestic Product in 2016. Government Budget in Panama averaged -1.52 percent of GDP from 1993 until 2016, reaching an all time high of 3.45 percent of GDP in 2007 and a record low of -4.87 percent of GDP in 2004. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides – Panama Government Budget – actual values, historical data, forecast, chart, statistics, economic calendar and news.