Everyone has an opinion (except me) of what Panama growth will be in 2011 and barring any world wide catastrophe it is possible that Deloitte's predestines will be pretty close to the mark. If so it will make Panama's growth a shinning example for the rest of the developed nations.
Edith Castillo Duarte
The audit and consulting firm Deloitte predicts growth for the Panamanian economy of between 6.0% and 6.5% this year, boosted by exports, construction and tourism.
It is expected that during the period 2010 - 2015, the economy could register a real growth of gross domestic product at over 6% and a moderate inflation of 2.5% (although high in historical terms relating to Panama).
The level of public debt, which now stands at about 40%, could be reduced over the next five years to a level below 30% in 2015.
Forecast to rebound in exports as the recovery deepens consumer confidence in the advanced countries, according to said partner and financial adviser to the firm, Domingo Latorraca, who further noted that although there are good prospects for the world economy, not be exempt from financial instability.