Construction continues to grow in Panama mostly due to the increase spending on public housing and infrastructure projects by the state according to La Prensa.
La Prensa
Domestic credit to private sector amounted to 21 thousand 559 million dollars by the end of August, an increase of 3.3% compared to the same period a year earlier.
Credit for construction maintains a sustained growth driven by increases in the rows of public housing, which through August totaled $ 1.172 billion, an increase of $ 408.4 million or 53.5% over the same period in 2008, when it stood at $ 764 million, according to the Superintendency of Banks.
Last December, these loans were $ 995.8 million, which analysts say means that the bank maintains its policy of paying for construction projects in progress.
Banks are more cautious yes to fund new projects, which do not have a significant percentage of sales, according to various industry sources.
In the field of infrastructure loan portfolio reaches $ 268.18 million, an increase of 77.9%, compared with August last year.
Meanwhile, mortgage financing has a positive momentum driven by increases in home mortgage lines (10.5%) and mortgage store (10.6%).
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