The Party’s Over…but the music still sounds

PANAMA - Forecast 23 Jul 2013 by Marco Fernandez and Guillermo Chapman
Executive SummaryGrowth has lost its double-digit momentum for the first time in nearly two years, coming in at 7% in Q1, down from 10% in Q4 2012. Falling services exports, weaker global growth and trade restrictions in Venezuela and Colombia have taken a toll, as has the end of the government investment program, and the winding down of Panama Canal expansion. We now project growth at 7.7% for 2013, 6.5% in 2014 and 6% in 2015. Significant private investment in mining, energy, tourism, logistics and modestly-priced housing will cushion the investment fall. Fishing has rebounded powerfully ...

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