Panama among the economies with the highest growth projections for 2023

Anatoly Gaviria Oct 24, 2022

Despite the fact that the Economic Commission for Latin America and the Caribbean expects the economic slowdown experienced by Latin America and the Caribbean to increase in 2023, with growth of 1.4%, the growth projection for Panama’s for next year is currently at 4.2%, placing it as one of the highest in the region.

According to ECLAC, the war between Russia and Ukraine is negatively affecting global growth -and with it the external demand that the region faced this year, while other factors that affect the economic performance of the region, such as inflationary pressures, have increased, volatility and increased financial costs.

However, in the case of Panama, ECLAC’s growth estimates go from 7.4% in 2022 to 4.2% in 2023, which, although not the highest in the region, is among the highest.

In fact, Panama’s growth projection is only below what is expected in countries such as Guyana (30%), Antigua and Barbuda (7.8%), Saint Lucia (5.9%), Venezuela (5%), Dominican Republic (4.7%) and Saint Kitts and Nevis (4.5%).

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