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:
“Politics at all times lead to bloody wars, and not only politics, but also religions as well as social and economic systems of all times are spattered with blood. Invariably the big ones devoured the little ones, and the little ones the tiny ones.”
—Friedrich Dürrenmatt (1921–1990)
“That land is like an Eagle, whose young gaze
Feeds on the noontide beam, whose golden plume
Floats moveless on the storm, and in the blaze
Of sunrise gleams when Earth is wrapped in gloom;
An epitaph of glory for the tomb
Of murdered Europe may thy fame be made,
Great People! as the sands shalt thou become;
Thy growth is swift as morn, when night must fade;
The multitudinous Earth shall sleep beneath thy shade.”
—Percy Bysshe Shelley (1792–1822)