{"id":4952,"date":"2024-04-11T13:22:38","date_gmt":"2024-04-11T13:22:38","guid":{"rendered":"https:\/\/latamreports.com\/br\/?p=4952"},"modified":"2024-04-11T13:23:50","modified_gmt":"2024-04-11T13:23:50","slug":"world-bank-forecasts-2-5-growth-for-panama","status":"publish","type":"post","link":"https:\/\/latamreports.com\/br\/world-bank-forecasts-2-5-growth-for-panama\/","title":{"rendered":"World Bank forecasts 2.5% growth for Panama"},"content":{"rendered":"\n

Table indicating that sectors are targeting foreign investment in Panama. Picture: World Bank<\/p>\n\n\n\n

Panama will have the lowest economic growth in the Central American isthmus for this year, according to World Bank<\/strong> estimates, disclosed in its latest report.<\/p>\n\n\n\n

The financial institution expects<\/strong> the Panamanian economy to grow only 2.5%<\/strong> in this electoral year, below Belize (3.5%), Guatemala (3.5%), Honduras (3.4%), Nicaragua (3.7%) and Costa Rica (3.9%).<\/p>\n\n\n\n

In 2023, the economy grew 7.3%<\/strong>, according to data from the Ministry of Economy and Finance (MEF), above the 6.5% estimated by the World Bank.<\/p>\n\n\n\n

After falling to this level, the international body estimates that in 2025, growth will rise to 3.5%<\/strong> and in 2026 to 4.0%<\/p>\n\n\n\n

As part of its report on the state of the region, the World Bank refers to the trend of foreign direct investment (FDI)<\/strong> flows and how they have had sustained growth in countries such as Costa Rica, the Dominican Republic and Panama.<\/p>\n\n\n\n

He refers to the fact that the main focus of FDI over the past 10 years in Panama was the mining sector.<\/strong><\/p>\n\n\n\n

However, in the Dominican Republic<\/strong>, this has taken a strategic turn towards diversification in hotels and accommodation and renewable energy.<\/p>\n\n\n\n

In the Panamanian case, recent announcements are associated with renewable energy and deposits and storage<\/strong>, revealing a broader economic landscape.<\/p>\n\n\n\n

Faced<\/strong> with the changes in mining activity, the country is looking<\/strong> for activities that enhance the growth of its economy<\/strong>, although those described by the World Bank have been popping up since before.<\/p>\n\n\n\n

This article has been translated from the original which first appeared in <\/em><\/strong>Pan American<\/em><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Table indicating that sectors are targeting foreign investment in Panama. 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