Panama continues to impress us. With more and more to offer every day, its economy looks very promising in the near future. Investment bank JP Morgan, highly recognized worldwide, estimates that this 2014, economic growth in Panama will be 6.5%, which will be in line with the country’s potential growth. This growth is partially supported by the Canal Expansion, but also due to the major public infrastructure investments and developments. Financials services, transport, communications and fisheries were the main drivers of the economical activity in the first trimester of 2014.
With all of this said, the rate can and might be slightly lower than the projected by the MEF (Ministry of Economy and Finance), the ELAC (Economic Commission for Latin America, the World Bank, and the Chamber of Commerce of Panama, among others, who speculate the increase of 7%.
“According to information published by the Financial Capital website, and according to statements Ucelli Franco, JP Morgan analyst, “Our current forecast is that the Real GDP (Gross Domestic Product) will expand 6.5% in 2014, in line with the potential growth of the Panamanian economy has been estimated by the International Monetary Fund (IMF). This growth will be supported by the Canal expansion and the development of other important public investments in infrastructure, two internal processes that continue to protect Panama from the adverse effects of external shocks. “
Projection JP Morgan confirmed, Panama continue the cycle of economic slowdown has been experiencing for two years, which has meant a cut of two percentage points in the annual growth rate of the country in that period: GDP expanded 10.2% in 2012 and the rate dropped to 8.2% in 2013.”
For more information go to http://mef.gob.pa/
Short summary of Panama Advances:
https://www.youtube.com/watch?v=WwWUq5iET74
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