The next president is likely to face a difficult task keeping public finances under control, said former Finance Minister Frank de Lima. The government has run up arrears with suppliers and, last year, reduced the property tax rate. Low water levels in the canal this year, due to dry weather, have led to a series of draft restrictions and could put a dent in revenues that the waterway pays the government, which totaled $1.7 billion in 2018.

Source: Los Angeles Times May 04, 2019 23:37 UTC