MEF projects that the economy in Panama grow by 5.6% in 2018

MEF projects that the economy in Panama grow by 5.6% in 2018

The Ministry of Economy and Finance (MEF) projects that the economy in Panama grow by 5.6% in 2018.

These estimates coincide with those of the International Monetary Fund and the World Bank.

Meanwhile, the Economic Commission for Latin America and the Caribbean (ECLAC) forecasts that Panama's economic growth this year will be 5.5%.

This Friday, March 16, the MEF presented the results of the growth of the Panamanian economy in 2017, which grew by 5.4%. The perspectives for 2018 were also presented.

Precisely President Juan Carlos Varela, said on March 15 during the first extended meeting of the Business Council of Latin America (Ceal), which takes place in the capital, that Panama maintains a strong economy with sustainable growth, which allows investment and with it, create new sources of employment.

He added that the country has a diversified financial system, as well as a logistics hub in development, which has allowed the generation of job positions.

The entity also explained that in the last five-year period, from 2013 to 2017, the transport, storage and communications sector contributed, on average, 13% of the Gross Domestic Product (GDP), at constant prices, with a growth rate of 3.9 % annual in the same period.