Panama: Latin America's highest economic growth rate 2017

Posted on 2017-02-22

Panama's Ministry of Economy and Finance has announced that it projects the country's economic growth for 2017 at 5.8%, the highest rate among all Latin American economies, thanks to strong performance in a variety of sectors including construction, mining, finance, and public services, as well as public infrastructure and energy generation.

Raul Moreira, Director of Economic and Social Analysis at the Ministry of Economy and Finance (MEF), explained in a press conference that the Ministry's forecast is aligned with projections from the International Monetary Fund, which also estimates Panamanian economic growth at 5.8%. The Economic Commission for Latin America and the Caribbean (ECLAC) projects 2017 growth to be 5.9% and the World Bank 5.4%. Panama's economy continues to lead Latin America, according to the World Bank, and is well-ahead of ECLAC's projected average growth for Latin America of 1.3%.

Source: Ministry of Economy and Finance (MEF)