Nobel Laureate in Economics, Stiglitz, praises Panama's economic results
He recommended that the Government continue, in the short-term, to provide subsidies to the needy to help ease the effects of the world food crisis and the high price of oil.
Thursday, August 7, 2008
"Not all countries can celebrate an increase in growth like you have. It's worth the while to continue working for better policies in future, starting with education and those sectors of the country that are humbler and more vulnerable, and to which a greater part of the resources should be directed," he highlighted, according to a press release from the Ministry of the Economy (MEF).
During the second quarter of 2011, Panama's economic growth was 11.4%, reaching 10.3% during the first six months of the year.
Over the past 14 years, taking into account the 7.5% growth of 2010, the economy has grown at an average rate of 6.3%.
Government officials estimate that the Panamanian economy closed 2010 with over 7% growth.
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.
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