Panama 5.6% growth projection leads region

PANAMA continues to lead the region in growth projections with The Economic Commission for Latin America and the Caribbean (ECLAC), raising its previous forecast for 2017 to 5.6%.

The projection for the region as a whole iss 1.1% boosted by the moderate recovery of the world economy, a slight rebound in trade and a higher price level of commodities.

The  ECLAC Economic Survey of, presented by Alicia Bárcena, executive secretary of the organization, says  that although the overall growth rate is positive, it is still low.

In the case of Panama, a growth of 5.6% is expected, four tenths above the last projection presented by the agency and giving the Isthmus the highest ranking, followed by the Dominican Republic (5.3) and Antigua and Barbuda (5.0).

Economist Rolando Gordón, says that ECLAC’s estimates are positive for Panama, “but the problem is the bad distribution of growth, because of complaints  about lack of water and other basic services.”

“What is growing is the sector linked to international trade, such as the Free Zone showing a slight improvement, the Canal, airports and construction,” he said.

Stagnant  sectors
He said that sectors such as agriculture, industry, livestock and fisheries, should generate a large number of jobs, but are stagnant.