Panama: Construction Sector Uses 10% Less Credit

Between January and June this year new loans for construction activities totaled $1.497 billion, 10% less than in the same period in 2015.

Wednesday, September 28, 2016

Of the $1.497 billion awarded in construction loans, 17% were financing for commercial premises, almost 5% for housing construction, 8% for infrastructure and 37% for other buildings, according to figures from the Superintendency of Banks of Panama.

Laestrella.com.pa reports that "...Other indicators for the construction sector also showed negative results in the first six months of 2016. Some examples are ready-mix concrete production, which went down by 24.4%, cement production which went down by 6.6% and building permits which fell by 11.1%."

"... Despite these results, the Comptroller General of the Republic estimated that the Gross Domestic Product for the construction sector expanded by 9.4% in the first half of 2016. "

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