BBVA Sees Panama Growing 6%

Spanish BBVA forecast Panama's economy to grow by 6% in 2010 and 6.3% in 2011.

Tuesday, October 19, 2010

These new projections above rectify others which estimated 4.1% for 2010 and 5.2% for 2011.

"The numbers are close to the Panamanian government estimates which estimated growth for 2010 of 7%, well above the 5% estimated earlier this year," reports Prensa.com on an article.

Joaquin Vial, chief economist of BBVA for South America, said that Panama has successfully overcome the global economic crisis.

More on this topic

Panama's Economy Growing at Double-Digits

September 2011

During the second quarter of 2011, Panama's economic growth was 11.4%, reaching 10.3% during the first six months of the year.

A statement from the Panamanian Ministry of Economy and Finance reads:

Panama's economic growth for the second quarter of 2011 was 11.4% and in the first half was 10.3%, as reported by the minister of Economy and Finance, Frank De Lima, citing figures from the Controller General of the Republic.

Panama Grows and Grows ....

June 2011

With 9.7% growth in the first quarter of 2011 compared to data recorded in the first quarter of 2010, the thrust of the Panamanian economy is surpassing all expectations.

While the rest of the world was just emerging with difficulty from the global financial and economic crisis in 2010, Panama grew by 7.5%. The projected growth for 2011 is 9%.

Panama: 7% Economic Growth in 2010

December 2010

Government officials estimate that the Panamanian economy closed 2010 with over 7% growth.

At a press conference by the Minister of Economy, Alberto Vallarino, the minister stated, "We have achieved a cumulative growth of seven percent which was our revised projection and if the trend of acceleration of the economy we've seen in the last four quarters continues (...) we can expect a higher growth for this fiscal year when final numbers are known in March."

Panama's growth to be between 7% and 8%

July 2008

The consulting firms Indesa and Deloitte estimate that Panama's economy will grow by seven to eight percent this year.

This is slower than the 11.2 percent growth in 2007, with a pattern similar to that of the period 2004-2006.
Some international firms, like the Economist Intelligence Unit, are forecasting even higher growth and are predicting that Panama will again be the fastest-growing economy in Latin America this year.

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