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Can Panama Really Keep Its Economy Surging Ahead?

Article Summary:

Panama’s economy remains consistent and is expected to close with 10% growth at the end of 2012 as predicted by Panama’s Chamber of Commerce.

Photo Credit: Prensa

Original Article Text From Prensa via Google Translate :

GDP Grew 8% Next Year

Panama’s economy will grow by 9.5% this year and 8% in 2013, according to the Center for Economic Studies at the Chamber of Commerce.

Panama has exceeded all expectations, even the most optimistic. “We were aware at the beginning of the year, a growth of 8% and grew to 9.5%,” said Manuel Ferreira, chief economist of the House, for whom the economic boost December can raise growth to 10%, the same projection Government does.

The next year, despite a slight slowdown, will remain strong economic growth at around 8%. This record will continue to outpace the growth potential of the Panamanian economy for economists is between 6% and 7%.

Economic growth will continue to be accompanied by pressure on prices, which will be further exacerbated by the effects of drought in the United States. “In 2012 more than 5.3% and for 2013 may be closer to 6%. There is a concern because not only impacts consumers, businesses also. ”

One of the engines is currently growing public and private investment. The expansion of the Canal, the Panama Metro and construction of roads, hospitals, airports and private projects such as hotels will be in its final phase in 2014, coinciding with the change in the presidency of the country.

This situation, coupled with doubts about the evolution of the international economy, could cause a more marked slowdown in the economy in 2014, bringing growth below its potential.

The IMF also warned about this phenomenon, and raise productivity advised to avoid an abrupt slowdown in the economy.

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From Prensa

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