Deloitte lowers its growth forecast for Panama from 9% to 7%

"In any case, 7.5% is still a favorable growth level and will continue to be one of the region's highest."

Monday, August 18, 2008

That was the comment by financial expert, Domingo Latorraca, a partner at Deloitte, during the company's latest Think Tank.

Panama's GDP grew last year by 11.2%, the highest rate in Latin America and one of the best in the world. However, there has been a slowdown and during the first trimester of 2008 there an expansion of 8.4% was recorded.

More on this topic

Nicaraguan Economy Grows by 5%

July 2011

Government authorities have announced that in the first quarter of 2011 there was growth of 5.3% compared to the same period in 2010.

The rise according to a report by the Council of Communication and Citizenship is a result of growth in private and public investment and the value of exports (14.6%).

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%.

Panamanian Economy Up 6,1% in First Half of 2010

September 2010

The economy of Panama grew 6,1% between January and June, reaching a GDP of $10,8 billion, $571 million more than the same period of 2009.

The sectors with the highest growth were transportation, storage and communications (+14%), followed by trade (+10,2%) and tourism (+9,6%).

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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