LatinNews Daily - 20 September 2022

In brief: Panama's economy continues to see solid growth

*Panama’s national statistics institute (INEC) has released new figures which show that Panama’s GDP grew 9.8% in the second quarter of 2022 compared with the same period in 2021. According to INEC, this reflects the reactivation of the economy following the elimination of heath measures imposed in response to the coronavirus (Covid-19) pandemic which caused Panama’s GDP to contract by 17.9% in 2020 – the largest contraction in Central America although this rebounded to 15.3% in 2021. According to the INEC, the Q2 2022 figure follows yearly growth of 13.6% in Q1 2022, 16.3% growth in Q4 2021, 25.5% growth in Q3 2021, and 40.0% growth in Q2 2021. The latest (23 August) forecast from the United Nations Economic Commission for Latin America and the Caribbean (Eclac) expects Panama’s GDP to grow 7.0% in 2022, the highest in Central America and well above the 2.7% average forecast for Latin America & the Caribbean.

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