PANAMA CITY: Panama’s economy is now set to grow “at least” 6% this year, up from the 5% previously forecast, the country’s economy and finance ministry said on Wednesday.
The revision follows strong economic activity in past months, supported by growth in the commerce, construction, tourism, banking, insurance, transportation and electricity sectors, the ministry said in a statement.
Panama’s economy is also expected to grow by 5% in 2024, the ministry added.
By 2024, Panama’s economic growth will be supported by transport and telecommunications, manufacturing, tourism, construction, trade and other industries, the ministry added.
Panama’s economy grew by 15.8% in 2021 and 10.8% in 2022, the ministry said.