Panama Withstands Crisis Better Than Others
A report published by the Comptroller General of Panama yesterday shows that the most important activities of the economy continued to grow.
Tuesday, March 17, 2009
Roberto Gonzales wrote in laprensa.com: "The revenue from Canal tolls, value of approved building permits, bank intermediation and arrival of tourists to the country marked positive results with respect to the same month in 2008."
Forecasts by private consultants and the government agree that in 2011 the Panamanian economy will grow 9% due to the combination of public and private investment, 11.6% and 8% of GDP respectively.
Like in other Central American countries, economic growth is expected to decelerate, on the back of the U.S. slowdown.
The global recovery is off to a stronger start than anticipated earlier but is proceeding at different speeds in the various regions.
Consulting firm Indesa lowered its forecast for panamanian economic growth; its was at 5.7% in December.
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