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
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“Economic growth may one day turn out to be a curse rather than a good, and under no conditions can it either lead into freedom or constitute a proof for its existence.”
—Hannah Arendt (1906–1975)
“There’s something about Marxism that brings out warts—the only kind of growth this economic system encourages.”
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“A man’s growth is seen in the successive choirs of his friends. For every friend whom he loses for truth, he gains a better.”
—Ralph Waldo Emerson (1803–1882)