Faced with the threat of a global economic slowdown and the possibility of the U.S. entering recession next year, businessmen in the region argue that to mitigate possible adverse effects, it is key to diversify export destinations.
Market analysts assure that the slowdown in U.S. economic activity is already a reality, and that what is still not clear, is the possibility that the economy will go into recession next year.
The Economist’s Unit of Economic Intelligence revised its growth estimate which was at 3.4% for 2009 downward, fixing it at minus 1.4%.
The forecast for 2010 is a slight recovery of 1.4% over 2009. The report also predicts victory in the upcoming presidential elections for opposition candidate Ricardo Martinelli.
With regard to this report, the Ministry of Finance signaled that it had possibly "(not taken) into account the financial incentive program recently announced by President Martín Torrijos.”
Global Economic Slump Challenges Policies. World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II.
Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector's functionality is restored and credit markets are unclogged.
Global Economic Slump Challenges Policies. World growth is projected to fall to ½ percent in 2009, its lowest rate since World War II.
Despite wide-ranging policy actions, financial strains remain acute, pulling down the real economy. A sustained economic recovery will not be possible until the financial sector's functionality is restored and credit markets are unclogged.