Panama: Inflation will not Fall in 2013

Independent analysts have set the general price growth next year at between 6% and 8%, with food growing above average, reaching a 15% increase.

Monday, November 26, 2012 reports that forecasts for 2013 by the Institute for Competitiveness ADEN and BBVA Research, are a bit "more conservative".

"According to BBVA Research estimates, inflation will be close to 5.0% in 2013, while ADEN estimates it to be above 6%. Both organizations agree that inflation in Panama could continue increasing due to rising food prices worldwide, coupled with the injection of fresh dollars approved by the FED and a similar decision by the European Central Bank, most of which would be invested in emerging markets like Panama. "

To reduce the external impact, Alejandro Trapé an economist at ADEN , recommends boosting agriculture and industry in order to produce more food locally, and not just staying focused on the services sector which has been Panama’s traditional practice.

More on this topic

More Foreigners Workers Wanted in Panama

July 2017

Entrepreneurs have proposed increasing the proportion of foreign personnel that can be legally contracted by companies operating in the country, from 15% to 20%.

Lack of personnel with the qualifications demanded by local companies and the multinationals that decide to settle in Panama is the main reason behind the proposal put forward by the business sector to authorize the hiring of more foreign staff.

Guatemalan Trade Mission to Mexico

May 2013

Six companies from the food, agriculture and plastic's industries visited Mexico to present their products for export.

From a note from the Guatemalan Exporters Association (AGEXPORT):

Under the framework of the Mesoamerican Mesa proyect by AGEXPORT, 6 food companies, from the agricultural, foods and plastics industry visited the Mexican cities, Mexico City, Toluca and Puebla, and met with Fernando Andrade Díaz-Durán, Ambassador of Guatemala to Mexico, and COMCE representatives from that country, in order to present their export projects, and show their willingness to do business with the neighboring country.

$37 Million in Guatemalan Mall

February 2010

Multiproyectos Group will remodel and expand shopping mall “La Pradera”, in Zone 10.

Ricardo González Díaz-Durán, executive president of Multiproyectos, owner of the complex, reported the project will be split in three phases. The first includes working on the inside of the mall and the food court.

Panama tariff policy spices up debate on inflation

May 2008

Panama has abolished import tariffs on tea, garlic, mustard, spices and seasonings while they remain in force for rice, corn, dairy products and chicken.

Consumer associations complain that the policy will do nothing to curb inflation in prices of basic food staples. But that is not the aim, said former economy minister Frank De Lima. The government wants to protect producers, not consumers, De Lima added.

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