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Latin America Investment News on Viva Tropical

Panama Closes 2011 with 5.6% Inflation and Sizzling Growth of 10.5%

Article Summary:

Panama’s growth is expected to continue next year, but an increase in cost of living items will take a bite of the economy in the year to come.

Photo Credit: Panama America

Original Article Text From Panama America via Google Translate :

Panama Closed 2011 with a Growth of 10.5% and 5.6% Inflation
A 10.5% growth near the 2011, and 7.5% next year, are some of the economic achievements in Panama. According to the latest report, “Preliminary Overview of the Economies of Latin America and the Caribbean 2011″ prepared by the Economic Commission for Latin America and the Caribbean (ECLAC), infrastructure projects like the Panama Canal expansion and the construction of Metro Line 1, heloed substantiate these results.

This year, Panama will surpass its growth with power economy such as Argentina, Brazil, Chile and Colombia. This trend will continue through 2012.

ECLAC indicates that part of growth in 2011 was centered in transportation and telecommunications, maritime transport services, the increase in foreign air transportation and the revitalization of the communications sector.

Frank De Lima, Minister of Economy and Finance, said the estimated growth of Panama for 2012 will be 7.5%, due to the situation that is facing the world in economic matters.

Panama officials say the country continues to attractive foreign investment, saying it has is more than 63 companies operating in the country under the regime of Multinational Corporations (SEM).

However, there have been many voices warning of a possible closure of inflation close to 5.6%, since over the years there have been significant increases in services related to: transportation as a result of price increases on cars and changes in oil prices worldwide.

There have also been increases in the value of food and drinks for the price increases in vegetables and losses suffered by the producers as a result of climate.

Similarly, the Panamanians have faced the year, with increases in goods and services, furniture, household equipment and routine maintenance of the house.

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From Panama America

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