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.
Asked about growth expectations for Gross Dometic Product, the minister said he's sticking with his prediction given at the end of 2007: eight percent this year.
"We're going to see high growth rates, of not less than eight percent," he said. "This could vary a bit, but it's a fact that we're going to go on having one of the highest growth rates in Latin America."

More on this topic

Panama: Inflation will surpass 10%

October 2008

Despite the high inflation, the country is still projecting high growth, unlike other countries.

The Ministry of the Economy and Finance (MEF) has revised the increase of two of its key macroeconomic projections: the Gross Domestic Product (GDP) and the Consumer Price Index (CPI).

Costa Rican economic growth slows to 5.8 percent

July 2008

The rate of economic growth has slowed down in Costa Rica, according to central bank figures published Monday.

During the first quarter, the nation's gross domestic product grew by 5.8 percent compared with the same period of last year. The growth rate is the lowest in eight quarters.

Analysts pessimistic about Guatemala's economy

July 2008

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.

The believe inflation will remain in double digits (10.7 percent) in 2009 as a result of the high oil prices. In addition, food prices have risen more than 12 percent in recent months.

Panama: Change in Base for Calculating GDP

February 2014

Starting this year, the base year for calculating the gross domestic product of Panama will be 2007.

Sources from the Comptroller General of the Republic and the Ministry of Economy and Finance (MEF) confirmed that from 2013, the base year for calculating the economic growth will increase from 1996, which has been used until now, to 2007.

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