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News & Statistics
Panama Economy Grows

Firm projects stable economic growth

Consulting firm Indesa has released its latest projections for Panama's economic growth for the period of 2010-2012, and the outlook is more positive than previous estimates.

The firm expects the country's gross domestic product (GDP) to grow an average of 5.6 percent per year, while the anticipated growth for this year has risen from 4 percent to 4.6 percent.

Indesa partner and former Minister of Economy and Finance Guillermo Chapman said that the massive investment in the public sector, namely the Panama Canal expansion, is one of the main reasons the country will experience such a high level of growth.

The country is also expected to benefit from the expected recovery in exports due to the improvement of world economy and the anticipated approval of trade deals with the European Union and several other countries.