Panama heads region in economic growth and one of world’s lowest inflation rates

The head of the Ministry of Economy and Finance (MEF), Héctor Alexander, highlighted  Saturday, July 1, that in the region, Panama leads economic growth, while maintaining lower inflation.

 “We have low inflation and, above all, what has been done in terms of public finances allows us to continue with investment grade, being one of the few countries in the region that have it and one with the lowest level of risk, which benefits not only to the government and its transactions but also to the operations that are carried out in Panama”, Alexander highlighted upon arriving for the installation of the National Assembly.

“The Panamanian economy has been growing very well, since in 2021 it did so at 15.8%, in 2022, 10.8% and this year, in the first months, 9%, and it is estimated that at the end of the year, it will be 5%. ”, Alexander detailed to the media on the outskirts of the chamber. He added that Panama’s economic growth continues to lead the region, and along with that it can be said that the country also leads one of the lowest inflation rates, not only in Latin America but in the world; and in terms of unemployment “we are going in a good direction due to the way in which unemployment has been reduced”, noting that the latest figures he manages indicate that in April 2022 there is an increase of 13% in job creation, of which 92% are formal jobs