Economic Growth
Panama economy grew 3%, 2.2% and 1.1% in the first, second and third quarter of 2009 respectively. Panama remains one of the few countries in Latin America that grew in 2009. However, the economic growth plummeted from 12.1% and 10.7% in 2007 and 2008 respectively. The local web site Panama Economy Insight estimates that Panama economy grew only by 1.6% in 2009 because economic growth continued slowing in the fourth quarter. Economic Commission for Latin America and Caribbean was very optimistic and forecast that Panama economy will grow by 4%, but on July 15 change its forecast by 2.5%. JP Morgan forecast only 1.5%. International Monetary Fund, Indesa, Delloite and Standard & Poor forecast 1.8%, 1.8%, 3.5% and 2.5% respectively.
Read more about this topic: Economy Of Panama
Famous quotes containing the words economic and/or growth:
“Until women learn to want economic independence ... and until they work out a way to get this independence without denying themselves the joys of love and motherhood, it seems to me feminism has no roots.”
—Crystal Eastman (1881–1928)
“A revolution is not the overturning of a cart, a reshuffling in the cards of state. It is a process, a swelling, a new growth in the race. If it is real, not simply a trauma, it is another ring in the tree of history, layer upon layer of invisible tissue composing the evidence of a circle.”
—Kate Millett (b. 1934)