Panamanian government forecasts at least 5% economic growth in 2023

Panama’s Minister of Economy and Finance, Héctor Alexander, assured today that his country’s economy would grow at least five percent this year, the ministry said in a press release.

According to information for Alexander, the Panamanian economy has been recovering well, and the outstanding growth in Latin America will continue, despite the international situation.

According to estimates highlighted by the Panamanian government, Panama’s economy will grow 15.8 percent in 2021 and 10.8 percent in 2022.

The head of the Economy portfolio pointed out that the trend in the price of debt in the economy is down and will continue to go down, that the growth of debt is going down, and that as time goes by, for every dollar received, they are spending less on operations.

“What is important is to have savings in current revenues that will fund us 42 percent of investments. That is to say, in 2020 and 2021, we were paying 100 percent of investments with loans, and now it will not be like that,” he sentenced.

In addition, according to the official, this year the percentage of operating expenses in current revenues is about 86 percent.

He also considered that the country has had “an increase in the country’s productivity” in recent years”.

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