From LA Prensa today

Panama's economy has grown in each of the past seven years, and this year is expected to be no different.

That is according to a variety of forecasts, including
those made by the central government and the Comisión Económica para
América Latina y el Caribe (Cepal). According to them, Panama's gross
domestic product (GDP) to grow between 7.5 percent and 9 percent in
2008.

While still healthy, that growth represents a sharp
drop from last year, in which the country experienced double digit
increases in its GDP.

"Everything seems to indicate that there will be a slowdown," said Domingo Latorraca, president of the Cámara de Comercio.

This slowdown will mainly be caused by the cooling of
the American economy, which is Panama's largest trading partner. The
expansion of the Panama Canal and the continued growth of the real
estate market may offset that impact, but these are not the only
variables that will impact the local economy.

The fading possibility that the U.S. government will
approve a free trade agreement with Panama has also dampened economic
forecasts.

The economy's driving forces will remain the canal, financial services, construction and agriculture.

For its part, the Ministerio de Economía y Finanzas is
forecasting a drop in both unemployment and inflation in...
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For its part, the Ministerio de Economía y Finanzas is
forecasting a drop in both unemployment and inflation in...">            |   Bookmarks