Economy

Panama’s sustained economic growth continued in 2014, with the economy expanding by 6.2%, according to the Ministry of Economy and Finance. The figure represented a slowdown from average annual GDP growth of 7.8% over the six years to the end of 2014 – including double-digit growth in 2011 and 2012 – and was partly due to the impact of a weaker global economy, the completion of major public works and slowing public sector spending. Even so, Panama’s construction boom continued in 2014, with that sector expanding by 14.9%, while the real estate and services sector expanded by 9.7% and the transport, storage and communications sector by 6%.

This chapter features interviews with Dulcidio De La Guardia, Minister of Economy and Finance; Melitón Arrocha, Minister of Commerce and Industry; and Erick Campos, Managing Director, Fitch Central America.