Panama’s Estimated Economic Growth in 2011 is the Highest in Latin America

2011-07-15

According to the 2010-2011 Latin America and Caribbean Economic Research Report just published by the UN’s Economic Commission for Latin America and the Caribbean, the estimated overall economic growth of this area for the year 2011 is 4.7%: the highest of which is Panama’s 8.5%, followed by the 8.3% of Argentina, while Haiti’s 8.0% growth rate, reached under the active international assistance of reconstruction, is the 3rd highest of the region. The economic growth was mainly attributed to an improvement of employment conditions and the private consumption growth led by an increase of credits. Panama’s 2010 economic growth was 7.5%, and 2011’s forecast is 8.5%. According to the report from ECLAC, the economic growth in Panama in the last two years is attributed to investment projects such as, the expansion construction of the canal, the Panama Bay environmental improvement project, and hydroelectric power plant construction.