5% Economic growth predicted for Panama Economy
Friday, February 20, 2009 7:05
Economist Nicolás Ardito Barletta has predicted that the growth of the Panama economy will slow down to 5% for the 2009 fiscal year. Average annual growth for the 5 years preceding, 2003 to 2008, was measured at 8%, with a peak of over 11% in 2007.
Barletta remains upbeat about the economy, citing factors such as the Canal expansion and various other infrastructural projects will help the economy in terms of this growth, although it is slowing down. These factors mentioned are said to represent 16% of the Gross Domestic Product, which is why the economic growth will continue in Panama.
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