The government projects that the Panamanian economy will grow at an average annual rate of 6.3% over the next five years.
From the Ministry of Economy and Finance:
The Cabinet Council gave its approval to the Ministry of Economy and Finance (MEF), of the Medium Term Fiscal Framework 2017-2021, as set out in Article 18 of Law 34 of 2008, better known as Fiscal Social Responsibility Law.
Between January and September the economy grew by 4% compared to the same period in 2014, driven by the sectors of transport, storage and communications, and electricity and water.
From a statement issued by the General Comptroller of the Republic of Panama:
The Monthly Economic Activity Index (IMAE) in the Republic for January-September 2015, measured in terms of the original series in 1996 prices, grew by 4.03 percent compared to the same period in 2014.
"The ongoing economic recovery in the United States and persistence of relatively low oil prices will provide favorable tailwinds to the region.Because of supply constraints, the region is expected to maintain a moderate pace of growth in coming years."
From the press release by IMF:
Central bank governors, finance ministers, and banking superintendents of Central America, Panama, and the Dominican Republic, and senior IMF officials met in El Salvador on July 23-24 to review the economic outlook for the region and strategies to strengthen policy frameworks and raise inclusive growth. The regional conference saw the participation of the President of El Salvador, Salvador Sánchez-Cerén; Governor of the Bank of México, Agustín Carstens; Director of the Netherlands Bureau of Economic Policy Analysis, Laura van Geest; and former Finance Minister of Perú, Luis Carranza.
The productive sector requests the government to focus in the real needs the economy has while it concentrates on prosecuting the alleged crimes of past administrations.
From a statement issued by the Chamber of Commerce, Industry and Agriculture of Panama (CCIAP):
It's been 8 months since the current administration assumed power granted by the people.
The 3rd Summit of the Community of Latin American and the Caribbean resulted in an expected collection of platitudes which can be summarized by everyone willing to "be rich and healthy and not poor and sick", plus a media show of diplomatic excesses.
EDITORIAL
The meeting was attended by all the leaders who were able to, obviously not because they expected to accomplish anyhing that might benefit the people of their respective countries, but simply because "you have to be there".
The investment plan announced by the government is over $19 billion in road works, sanitation and electricity distribution and will support sectors such as logistics, transportation, tourism and agriculture.
From a statement issued by the Ministry of Economy and Finance in Panama (MEF):
The Government Strategic Plan 2015-2019, contemplates a public investment program of around $19.5 billion.
Employers in the region are complaining about a lack of long-term development policies, and are asking for Government transparency, effectiveness and legal certainty, so that they can continue investing in the region.
During a meeting between businessmen and government called 'Expanding opportunities: promoting the private sector and job creation', entrepreneurs from different sectors shared their concerns and views on the investment climate in the region.
Construction, mining and financial sectors drove growth in the Gross Domestic Product in the first six months of the year.
From a statement issued by the Ministry of Economy and Finance of Panama:
Growth projection for the closure of the 2014 is held in 7%, leading the region.
Panama's economy grew by 6.2%, in the first six months of 2014, to be located the Gross
The business sector is proposing the creation of a government entity focusing on the long term development of logistics activities in the country.
Adopting logistics as a matter of state and implementing a long term national logistics strategy that takes into account all of the productive sectors involved is the proposal of the business sector to the incoming government.
In the region the level of sales tax evasion is around 33% on average.
From a statement from the Central Institute for Fiscal Studies (Icefi):
The Central American Institute for Fiscal Studies presents the seventh edition of its analysis of the situation in Costa Rica.
Icefi: It is urgent that the two contending political parties specify a plan that will allow them to balance fiscal accounts and fulfill their campaign promises.
While Nicaragua and Panama have sustainable levels of public debt, for El Salvador, Honduras and Costa Rica the prognosis is "reserved" .
Recent analysis by the Central American Institute for Fiscal Studies (Icefi) reflects very different fiscal situations in each country.
An article in Prensalibre.com states that "data from the report indicates that the country with the greatest debt is El Salvador, as in 2011 it reached 50% of GDP, in 2012 it increased to 52% and it is expected to reach about 54% in 2013.
Analysis of debt sustainability in Central America, economic growth, inflation, revaluation and management of the fiscal deficit.
Central America Fiscal Lens No. 5 reported that gross domestic production in Central America in 2012 amounted to U.S. $184.000 million. The fastest growing economies were Panama, Costa Rica and Nicaragua.
As for exports, although they grew by 7.1%, they were quite far from the 20.5% achieved in 2011.
The road to sustainable human development passes inexorably thorough the digitization of national economies.
A book published by CEPAL entitled "Digital Economy for structural change and equality," reports on the profound differences between the Latin American countries with respect to the integration of new information technologies and telecommunications.
Panama’s economy continues to grow strongly, buoyed by the Panama Canal expansion and large public infrastructure projects.
With average annual growth rates of 8.5 percent, Panama’s per capita GDP has more than doubled over the past decade. This impressive growth performance has been driven by a steady rise in public and private investment in a stable economic environment buttressed by prudent policies.