Macroeconomic Forecast Panama

June 2008 | Macroeconomic Forecasts

BMI View: Panama's monthly economic activity index - a rough proxy for real GDP growth - expanded by just 1.9% y-o-y in March, down from 9.7% y-o-y in February. While the bulk of this slowdown can be explained by fewer working days during the month due to the Easter holidays, it may also point to the start of an economic deceleration. Despite the risks, we remain confident that Panama will post another strong (albeit slower) rate of economic growth this year largely on the back of the Canal expansion project and resilient domestic demand. We have pencilled in real GDP growth 8.5% and 7.2% in 2008 and 2009 respectively.

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