Sunday, May 28

Inec expects economic growth for Panama between 7.5% and 8% in 2022

Since the beginning of 2022, international organizations have placed Panama as one
of the countries with the best projection of economic growth, between 5% and 8.2%, a
optimism that is also observed in the official estimates since the National Institute of Statistics and Census (Inec) of the Comptroller General of the Republic estimates a growth between 7.5% and 8%.

The director of the Inec, Samuel Moreno Peralta, highlighted that many of the activities that go to mark that line of economic growth for 2022 are the traditional: the Panama Canal, port operations, exports, especially of copper concentrate and also some industries that have been stabilizing such as the banana industry, the export of bovine meat to interesting markets such as China.

For its part, Domingo Latorraca, former Vice Minister of Economy and partner of the firm
Elemente, indicated that it is already start recording activities with positive numbers, led by the external sector, everything related to the Panama Canal, ports and exports, which is considered a positive sign for the Panamanian economy.

For her part, the president of the Panamanian Association of Business Executives (Apede),
Elisa Suarez de Gomez, notes that are estimates that should be reevaluated once pass the wave of infections by coronavirus (Covid-19) that the country is currently experiencing, which has led to the closure of many companies to maintain the health of employees and their customers.

Both government authorities and the private sector are concerned
due to this wave of Covid-19 infections, Considering that this may affect the
productivity of companies and with it, the growth rate of the Panamanian economy.