Panama in figures: The latest on Finance, Economy and Social Stability.


Panama in figures: The latest in Finance, Economy and
Social Stability

When we are financially speaking, there is nothing that certifies what is claimed better than the numbers. Real numbers and endorsed by governmental, economic, social and global entities. An economy does not walk alone, it is autonomous and individual, but at the parallel pace of a global society.

A few days ago, the Presidency of the Republic of Panama published some very interesting data:

Panama recorded the lowest inflation in Central America in 2022 with 4.0%, according to the International Monetary Fund, being one of the countries with the lowest impact in the region, due to economic reactivation strategies and inclusive consolidation with the vulnerable population.

Thanks to the efforts of the Government, the productive sectors and Panamanians, the country recorded extraordinary economic growth in 2021, a bonanza that is expected to continue in 2022.

“The World Bank estimates that the Panamanian economy will grow 6.5% this year, higher than the 2.3% average projected for Latin America, which places our country as the fastest growing in the region,” confirmed the Head of State. Read more here.

He highlighted the holding of the Bloomberg New Economy Gateway forum in Panama. ” We are the first country to host this important global event outside Asia,” he said. The President reiterated that his administration’s doors are open to continue working on projects, programs and initiatives that prioritize the generation of employment and the creation of opportunities for all.

What about the pandemic?

The spread of COVID-19 slowed in 2021 as a result of vaccination, with 73% of the population at least partially vaccinated. The Omicron variant triggered a new peak, but the number of new cases was down 85% in mid-February compared to the end of January. Panama’s GDP has recovered from the COVID-19 crisis with 2021 growth of 15.3%, according to World Bank Panama figures.

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