Panama's inflation rate at 7.2%, growth 8%
Panama's inflation rate is taking a leap of a three percent compared to the year-earlier figure, but growth is likely to remain strong.
Wednesday, July 23, 2008
"We believe that we're going to see inflation of three percent higher than in 2007, which was 4.2 percent," said Panama's Minister of Education and Finance Hector Alexander.
Despite the high inflation, the country is still projecting high growth, unlike other countries.
The rate of economic growth has slowed down in Costa Rica, according to central bank figures published Monday.
A group of private analysts who are consulting for the Bank of Guatemala are predicting that annual inflation will be 11.86 percent by year-end.
Starting this year, the base year for calculating the gross domestic product of Panama will be 2007.
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