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).

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's Economy Grew at an Average 6.3%

March 2011

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%.

In the past five years the growth rate has been 8.3%, according to a report by the Ministry of Economy and Finance. In 2009 Panama's economy grew 3.2% while growth in 2010 doubled to 7.5%.

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."

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%).

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