Economy: Construction and Tourism to Boost Growth

In Panama the government estimates that in 2020 the economy will grow between 4% and 4.5%, a rise that would be determined by the behavior of construction, tourism and exports.

Tuesday, January 14, 2020

According to estimates from the Ministry of Economy and Finance (MEF), by the end of 2019 the increase in the Gross Domestic Product (GDP) could fluctuate between 3% and 3.5%, while by the present year 2020 it will be between 4% and 4.5%.

Construction will be boosted this year because of the positive impact that will arise after the reform of the Preferential Interest Law and the payment of $438.8 million to more than 20 banks that finance housing with preferential interest, as well as $3,075 million in infrastructure projects scheduled for 2020, the authorities forecast.

Hector Alexander, Minister of Economy and Finance, told Elcapitalfinanciero.com that "... the international tourism promotion campaign, the entry into operation of Terminal 2 of the Tocumen International Airport and the Amador Convention Center, as well as the construction of the Amador Cruise Terminal, will help boost the arrival of visitors to the country."

The article adds that "... for this year it is expected that exports of Copper and other metals by Minera Panama will help raise the country's economic growth by 1%, which will be added to the increase in banana exports by the company Banapiña and beef exports to the People's Republic of China."

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More on this topic

Economy: Predictions Reserved for the Region

July 2019

The outlook for some economies in the region for 2019 is not the best: in Nicaragua GDP is expected to fall between 5% and 7%, while in Costa Rica the growth estimate at the end of the year was reduced from 3.2% to 2.2%.

The estimates of the Nicaraguan Foundation for Economic and Social Development (Funides), presented in its "Informe de Coyuntura - Julio 2019", indicate that by 2019 an economic contraction of between 5.4% and 6.8% will be reported in the country.

Guatemala: 2019 Better Than 2018?

December 2018

The Bank of Guatemala expects next year's economic growth to be better than in 2018, which would be caused by higher public spending and the growth of family remittances.

Authorities of the Bank of Guatemala (Banguat) informed that the Guatemalan economy will close 2018 with a nearly 3% growth, however, for next year is expected that the increase in GDP will be in the range between 3% and 3.8%.

Honduras: GDP to Grow between 3.4% and 3.7% in 2017

March 2017

The Central Bank has forecast for this year inflation of 4.5% with a margin of ± 1%, and annual growth of 3.6% in exports.

From a report by the Central Bank:

The Central Bank of Honduras (BCH), through Resolution No.81-3 / 2017 of March 2, 2017, approved the 2017-2018 Monetary Program (MP), which sets out the measures for monetary, credit and exchange policy and the prospects of the Honduran economy and the international context for a two-year horizon, in order to guide operators and the general public in decision-making and formation of expectations. 

Prospects for Nicaragua's Economy

August 2014

The Central Bank has cut its growth forecast for GDP for the year to 4% - 4.5% and expects inflation to be between 6.55% and 7.5%, higher than initially expected.

From the executive summary of the report "State of the Economy and Prospects, First Semester 2014":

At the end of the first half of the year, the Nicaraguan economy is maintaining positive growth rate, mainly driven by external demand and improved terms of trade.

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