Panama's economy will grow 6% in 2019, Varela

Panama's economy will grow 6% in 2019, Varela

According to the head of the Ministry of Economy and Finance, Eyda Varela de Chinchilla, Panama grew 4% in 2018. A figure that could be exceeded this year

By Panama America

This year, the Panamanian economy is set to grow by approximately 6%, according to the head of the Ministry of Economy and Finance, Eyda Varela de Chinchilla, during an exhibition at a forum organized by Capital FinanPanama's economy will grow 6% in 2019, Varelaciero, where she analyzed the behavior of 2018 and its projection for 2019.

According to Varela de Chinchilla, depending on international organizations, such as the International Monetary Fund, the World Bank and the Economic Commission for Latin America and the Caribbean, Panama would grow in a range of 6.3%, 6% and 5.6%, respectively.

During 2018, the world in general grew 3%; while Panama was limited by 4.1%. 'This year (2019) only China is the country that grows above Panama, but when compared with the United States and the rest of the world, we will double, and compared to Latin America, we will grow about three times more,' he said. the representative of the MEF.

Varela de Chinchilla said that this growth will be based on copper production in Donoso, province of Colon, which would begin this year, without detailing the month; the expansion of the Tocumen International Airport, which will add twenty doors to its inventory; the impact of the World Youth Day, the beginning of the construction of the fourth bridge over the Canal, the third line of the Metro, the extension of the lanes to the interior of the country, the banana production in Barú by Banapiña, a subsidiary of Del Monte, which in 2018 began sowing the first 650 hectares.

For his part, economist Alan Corbett estimates that GDP growth should be between 6% and 7% for a small economy like the local one, with peaks no greater than 9%, at best, and no less than 5%. %, in the worst of scenarios.

The previous thing, says the economist, allows that the private company and the investment sustain of constant form the growth of the use, with a relatively controlled inflation of 3% to 4%. "Everything that is above or below those ranges generates imbalance," he said.

Corbett exemplified that as there are no savings and there is a lot of inflation, it is possible to decelerate growth a little to reduce inflation.