Panamas growth rate slows as projects finish

PANAMA’S GROWTH rate slowed in 2013 from its double digit levels of 2011-2012 last year as many public works neared completion.

But the country still managed a growth of 8.4%, the envy of dozens of countris around the world.

A Reuters report says that Panama Grew by 8% on average in the last six years.
The progressive completion of major infrastructure works slowed down growth in 2013 to 8.4%, below what was achieved in the previous two years.
The Panamanian economy smoothly dodged the 2008 global crisis, and has maintained a high rate of activity through the implementation of public and private projects.

"The Central American country escaped the worst of the global recession, achieving an average growth rate of 8 percent in the past six years and scoring a double-digit growth in 2011 and 2012," said Reuters.

"Much of the growth in Panama can be attributed to spending on public infrastructure, including the construction of the third set of locks on the Canal and the implementation of the first Metro system in Central America.
Some local economists have expressed fears that the economy will continue to contract while Panama has amassed massive public debt