Panama Economy Expected To Grow By 7.5% in 2012

Panama Economy Expected To Grow By 7.5% in 2012

Thursday, December 15 2011 @ 09:21 AM COT
Contributed by: Don Winner
Views: 68
Despite what is happening globally, the Government predicts that during 2012 the Panamanian economy will grow by more than 7.5%. “We [the government] are confident the Panamanian economy next year will continue to shine as bright as this year,” said the Minister of Economy and Finance, Frank De Lima on Thursday. Speaking on RPC Radio, the official said he was confident Panama is the country with the highest rate of economic growth in all of Latin America.
FACTORS – De Lima said several factors will contribute to this growth. Among these, he said 2012 will be the peak year of the project to expand the Panama Canal, as well as investment in other infrastructure programs undertaken by the Government, such as the building of the new Panama Metro subway system, as well as the “reordering” of the roadway system in Panama City, as well as the construction of new schools and hospitals. The minister said domestic demand in the country will help generate robust economic growth. And this will continue no matter what happens in the global economy, said the Minister of Economy of Finance, referring to the crisis in the European and U.S. economic slowdown. (Prensa)

Editor’s Comment: Here are the GDP growth rates of the Panamanian economy since 2001:

2001 – 0.57%
2002 – 2.23%
2003 – 4.21%
2004 – 7.52%
2005 – 7.19%
2006 – 8.53%
2007 – 12.11%
2008 – 10.12%
2009 – 3.2% (global recession, Panama grew anyway)
2010 – 7.45%
2011 – 9.6%
2012 – 7.5% (projected)

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