World Bank forecasts 5.1% Panama rebound in 2021

 
686Views 8Comments Posted 06/01/2021

The World Bank forecasts Panama will be among the leaders in Latin America in an economic rebound in 2021 with a growth of 5.1% in a new edition of the World Economic Outlook report in which it updated its growth projections for the world.

The Washington-based organization estimates that in 2021 the global economy will expand by 4%.

For Latin America and the Caribbean as a whole, a growth of 3.7% is calculated for the recently launched fiscal year. Like the rest of the countries in the region, Panama will go from a strong contraction in 2020 to a rebound in 2021.

The multilateral bank maintained its contraction projection for 2020 at 8.1%, a more optimistic estimate than the latest ones made by local analysts, which point to a drop in gross domestic product of around 14%.

Meanwhile, in 2021 the agency believes that the economy will return to the growth path with a rebound of 5.1%, an estimate slightly lower than the 5.3% that it had projected last October.

If this calculation is met, Panama would be among the fastest growing countries in the region.

The Economic Commission for Latin America and the Caribbean forecasts a growth of 5.5% for Panama in 2021, a performance that would only be surpassed by Peru.

Local estimates range between 4% and 7% growth, although they could be adjusted depending on the evolution of the new coronavirus pandemic.



Comments 8

user
Oh ya

Well chappy with all do respect if you believe in this vaccine i can not take anything you say serious. Open your mind and read about mRNA vaccine history... Oh wait its never been used on humans before but has killed all animals in the animal tests

18 days ago
user
Snake Pliskin

I believe the world economy WILL grow because Biden will give the wealth of the US to them. No surprise there. Exactly what Obummer was trying to do.

18 days ago
user
MHogan

I, too, hope for a rebound in the economy. But I have a few questions maybe someone can answer—only to understand where the rebound takes us from pre-pandemic economic status: where will be economically in GDP after a 5.1% rebound? What will be the inflation rate? What will be the % unemployment? How will we fare compared with the region in economic terms?

18 days ago
user
Chappy

Oh ya...suspect you're a "glass-half-empty" guy (or gal). I used to be one myself and still struggle to fight those urges, but now choose to have hope and optimism. Can't say I always do, but prefer not to comment if I have nothing good to say. Perhaps you could adopt the same philosophy. Or am I thinking too optimistically? To the heart of your comment though, it's valid to think many people have suffered tremendously economically thru this pandemic, and will continue to do so. My heart goes out to them, and hope they can recover from it once things improve, but don't think for a moment that everyone is in that situation. I know firsthand that there is pent-up demand, and money, for people to get out and enjoy their lives again, including tourism etc, once the vaccine can start reducing numbers. Yeah, to think 2021 will be the year might be a tad optimistic, but if things go well with the vaccine, you can bet the world economies and travel will flourish.

18 days ago
user
Chappy

Oh ya...suspect you're a "glass-half-empty" guy (or gal). I used to be one myself and still struggle to fight those urges, but now choose to have hope and optimism. Can't say I always do, but prefer not to comment if I have nothing good to say. Perhaps you could adopt the same philosophy. Or am I thinking too optimistically? To the heart of your comment though, it's valid to think many people have suffered tremendously economically thru this pandemic, and will continue to do so. My heart goes out to them, and hope they can recover from it once things improve, but don't think for a moment that everyone is in that situation. I know firsthand that there is pent-up demand, and money, for people to get out and enjoy their lives again, including tourism etc, once the vaccine can start reducing numbers. Yeah, to think 2021 will be the year might be a tad optimistic, but if things go well with the vaccine, you can bet the world economies and travel will flourish.

18 days ago
user
Chappy

Oh ya...suspect you're a "glass-half-empty" guy (or gal). I used to be one myself and still struggle to fight those urges, but now choose to have hope and optimism. Can't say I always do, but prefer not to comment if I have nothing good to say. Perhaps you could adopt the same philosophy. Or am I thinking too optimistically? To the heart of your comment though, it's valid to think many people have suffered tremendously economically thru this pandemic, and will continue to do so. My heart goes out to them, and hope they can recover from it once things improve, but don't think for a moment that everyone is in that situation. I know firsthand that there is pent-up demand, and money, for people to get out and enjoy their lives again, including tourism etc, once the vaccine can start reducing numbers. Yeah, to think 2021 will be the year might be a tad optimistic, but if things go well with the vaccine, you can bet the world economies and travel will flourish.

18 days ago
user
Chappy

Oh ya...suspect you're a "glass-half-empty" guy (or gal). I used to be one myself and still struggle to fight those urges, but now choose to have hope and optimism. Can't say I always do, but prefer not to comment if I have nothing good to say. Perhaps you could adopt the same philosophy. Or am I thinking too optimistically? To the heart of your comment though, it's valid to think many people have suffered tremendously economically thru this pandemic, and will continue to do so. My heart goes out to them, and hope they can recover from it once things improve, but don't think for a moment that everyone is in that situation. I know firsthand that there is pent-up demand, and money, for people to get out and enjoy their lives again, including tourism etc, once the vaccine can start reducing numbers. Yeah, to think 2021 will be the year might be a tad optimistic, but if things go well with the vaccine, you can bet the world economies and travel will flourish.

18 days ago
user
Oh ya

Oh please tell us what this growth is based on? Maybe the tourists that will not be coming because they don't have jobs either, or people moving here, oh wait they cant sell their houses up north either. Or maybe pwiple will flock here because they like the countries stupid lock downs. I am sure Copa sold lots of their planes because they knew how busy they were going to get. So please World Bank what is going to make this growth

19 days ago
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