In 2013 Panama’s economy will grow by 8.5%, despite of the opinion which earlier expressed the Minister of Economy and Finance of Panama, Franc de Lima that the internal and external factors will continue to slow down economy.
Last week at the Chamber of Commerce Minister made a speech on the economic outlook. He confirmed that the government planned to increase with an increase of 8.5%, although the forecast of the International Monetary Fund is more modest - 7.5%.
Last week the Chamber of Commerce presented its overview of the economy of the Republic. The government planned an increase of 8.5% , however the forecast of the International Monetary Fund is at 7.5%. In 2011 the GDP of Panama grew 10.9%, in 2012 the slowdown was barely mentionable at 10.8%, but now we can clearly see that there is a downturn. The positive side is though that 8.5% or even 7.5% is still a very impressive dynamic economy. Most of the countries around the world are counting losses or at least are happy with a 2-3% growth.
As for the future years, it is not a secret that the government doesn’t have any illusions – the projected growth for 2015and 2016 is at 6.5% and 5.5% accordingly.
The slowdown is happening because of worldwide economy decrease, which first of all influences the Canal and Panama Free Trade zones.
