A. M. The Ministry of Finance confirmed that between january and february 2025 it collected US$1,260.4 million in tax revenues, which represented US$35.3 million more than projected in the budget. Despite this, the figure is US$28.7 million lower than that recorded in the same period of 2024, reflecting a contraction of 2.2%.
The report shows that the trend of declining tax revenues continues for the second consecutive month. In january, collection also fell by 6.6% compared to last year, although it exceeded the budget target by 1.3%.
Adding tax revenues and non-tax contributions -such as fees and transfers-, the Treasury accumulated US$1,315.3 million as of February 28. This figure is US$11.8 million lower than that of 2024, but US$15.8 million higher than the budget forecast, which indicates stability in public finances.
Meeting the fiscal target is key to guaranteeing the State’s commitments and continuing with social programs, infrastructure investments and debt repayment. Despite the drop in relation to 2024, the government has managed to sustain its revenue projections, which could provide confidence to the economic sectors.
With the upcoming release of march revenues, the Treasury will have to confirm whether the trend is maintained or if collection begins to rebound, a determining factor for fiscal planning for the rest of the year.
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