Panama Leads Growth
Contributed by Molina & Co.
15 June, 2012
The country will grow 8.5% in 2011, driven by investments in infrastructure. In 2012 would slow to 6%
Panama continues to play in the major leagues as far as growth is concerned, it appears from a report by the Economic Commission for Latin America and the Caribbean (ECLAC). The lawsuit, filed yesterday, plans to Panama as the most dynamic country in Latin America this year, an increase of 8.5% of gross domestic product (GDP).
Panama would fall over Argentina (8.3%), Peru (7.1%), Chile (6.3%) and Brazil (4.0%).
ECLAC estimates are not far from the government estimates, which expected to grow 9% this year.
The economic survey 2010-2011 of ECLAC forecasts that South America will grow 5.1% this year. Meanwhile, the Central American region as a whole would grow 4.3% and 1.9% of Caribbean economies.
Consequently, growth in Panama is considerably higher than in Central America and the Caribbean.
All region (LAC) will grow 4.7%. The good economic performance due to the momentum of private consumption, a result of improved labor-market indicators and credit growth.
Panama is located next to Costa Rica, Ecuador and Brazil among the countries where wage employment increased.
Osvaldo Kacef member of the Economic Development Division of ECLAC, said the growth is being aided by investments being carried out in the country, mainly in infrastructure.
Panama 2012, slow growth rate, an improvement of 6%. The analyst noted that the poverty level, 40% of the population will decrease by strong social spending and better conditions of employment.
Asked about a possible overheating of the economy, as has been noted by others, Kacef said it is too early to evaluate.
Yes commented on the need to allocate resources for savings, with possible eventualities.
« Go Back to Articles