Panamas 2014 growth to top Latin America

PANAMA will have the fastest growing economy in Latin America, according to the latest projection of the Economic Commission for Latin America and the Caribbean (ECLAC).

Growth this year will be 6.7 percent, says ECLA C and  Panama’s Ministry of Economy and Finance said that it agrees with the forecast, noting that the rate is a slight decrease from 2013 when economic growth was 8.4 percent.

Following Panama are Bolivia (5.5 percent), Colombia, Ecuador, Nicaragua and the Dominican Republic (all with 5 percent growth)

Across the continent only Venezuela will experience negative growth (- 0.3 percent).

The forecast of growth for the whole of Latin America and the Caribbean is 2.2 percent, down from earlier forecasts of 2.7 percent reports La Prensa

According to the group’s economic survey, economic growth of the region has been slowing, a trend that continues this year.

“In particular, during the first months there has been a low dynamism due to stagnation of gross formation of fixed capital and a slowdown in private consumption growth. On the other hand government consumption has accelerated and the net contribution of exports has been more favorable than in the same period of the previous year,” said ECLAC in its report.

Panama’s 2014 growth to top Latin America
PANAMA will have the fastest growing economy in Latin America, according to the latest projection of the Economic Commission for Latin America and the Caribbean (ECLAC).
Growth this year will be 6.7 percent, says ECLA C and Panama’s Ministry of Economy and Finance said that it agrees with the forecast, noting that the rate is a slight decrease from 2013 when economic growth was 8.4 percent.
Following Panama are Bolivia (5.5 percent), Colombia, Ecuador, Nicaragua and the Dominican Republic (all with 5 percent growth)
Across the continent only Venezuela will experience negative growth (- 0.3 percent).
The forecast of growth for the whole of Latin America and the Caribbean is 2.2 percent, down from earlier forecasts of 2.7 percent reports La Prensa
According to the group’s economic survey, economic growth of the region has been slowing, a trend that continues this year.
“In particular, during the first months there has been a low dynamism due to stagnation of gross formation of fixed capital and a slowdown in private consumption growth. On the other hand government consumption has accelerated and the net contribution of exports has been more favorable than in the same period of the previous year,” said ECLAC in its report.