Macroeconomic Forecast Panama

BMI View: While accurate unemployment data for Panama is thin on the ground, we believe that the country's rapid pace of economic expansion will lead to a steady decline in the headline print in the medium term. In particular, we are buoyed by the vast array of infrastructure development projects that are in the pipeline. As such, we estimate the unemployment came in at 6.8% at end-2010, and expect it to decline to hit our projection of 6.5% by the end of 2011.

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