Jump to content

Recommended Posts

  • Moderators
Quote

Panama job market down 14% in January

jobs-620x264.jpg

LABOR CONTRACTS  registered with Panama’s Ministry of Labor (Mitradel)  fell sharply in January down 14% in compared to the same month last  year.

If the trend continues 2017 could become the fifth consecutive year in which the unemployment rate increases in the country.

In January 2017, 20,236 employment contracts were registered, down from 23,475 in January 2016, a decrease of 3,239.

All categories of labor contracts declined, according to statistics compiled by the Office of the Comptroller General .

The last official figure on unemployment in Panama is August 2016. At that time, the unemployment levels of the non-indigenous population of the country reached 102,497 people, which caused the unemployment rate to rise to 5.8% that year, according to the Comptroller.

The unemployment rate in Panama was 4.2% in 2012, 4.3% in 2013, 5.1% in 2014, 5.3% in 2015 and 5.8% in 2016.

Young people between the ages of 20 and 24 are the ones with the highest level of unemployment in the country.

Globally, estimates by the International Labor Organization (ILO) show that levels and the world unemployment rate will remain high in 2017.

The ILO expects the global unemployment rate to increase, from 5.7% to 5.8%.

For the ILO, the situation in Latin America and the Caribbean is particularly worrying, as the unemployment rate is projected to increase in 2017, to 8.4%, mainly due to the increase in unemployment in Brazil.

By contrast, the ILO expects unemployment in the developed countries to decline by 2017 and the rate to rise from 6.3 to 6.2 per cent, from 2016 to 2017.

 

http://www.newsroompanama.com/business/panama-4/panama-job-market-14-january

Link to comment
Share on other sites

  • Moderators
Quote
panama-10.jpg

Panama City from the Ancon Hill, a 654-foot hill that overlooks the capital city

 

TODAY PANAMA (Prensa Latina) The unequal distribution of wealth increased in Panama, indicates a recent report issued by the ministry of Economy and Finance (MEF) in December 2016, quoted today by the local media.

The official report, titled ‘Distribution of Household Income’, said that in 2015 the 10 percent of the richest families of Panama had 37 times more profits than the 10 percent of the poorest families.

The levels of economic inequality exceeded the rates of 2014, when the income of the 10 percent of the wealthiest population exceeded almost 34 times the income earned by 10 percent of the poorest people.

MEF concluded in its socioeconomic assessment that the situation of the unequal distribution of wealth in Panama would be worse without the subsidies granted by the Government to ease the critical situation of the poor, said the newspaper La Estrella.

The Economic Commission for Latin America and the Caribbean (ECLAC) indicated that between 2002 and 2015 the main fortunes of this region increased by an average of 21 percent a year, six times higher than the region’s gross domestic product.

http://todaypanama.com/gap-between-rich-and-poor-in-panama-increases/

Link to comment
Share on other sites

  • Moderators
Quote

Panama firefighters get immediate pay raise

Bomberos-620x264.jpg

PANAMA’S FIREFIGHTERS  are getting an immediate across the board salary increase  with the new base set at $850 a month.

The Executive Decree has been signed by President Juan Carlos Varela and published in  the Official Gazette  The decree was also signed by the Minister of Government María Luisa Romero.

 

http://www.newsroompanama.com/news/panama/panama-firefighters-get-immediate-pay-raise

Link to comment
Share on other sites

  • Moderators
Quote

Finance Minister studying plan to brake public pay raises

Dulcidio-dukcidio-De-La-Guardia--620x264.jpg

PANAMA’S Public sector wage increases, have been growing  at an unsustainable rate of 11 percent in recent years warns Minister of Economy and Finance Dulcidio De La Guardia.

State revenues have not grown at the same pace he said on Thursday Mar.23 and  announced that the Cabinet Council had authorized him to draw up a plan to contain salary increases.

The current administration, following a pattern of  its predecessors, has increased the state payroll and spending.

In 2016, the gross salary accumulated by public employees was $3.1 billion, $602 million more than at the close of 2014, when the administration began.

The increases are caused, in part, by special laws that force the adjustment of wages to certain groups of workers.

 

http://www.newsroompanama.com/news/panama/finance-minister-studying-plan-brake-public-pay-raises

Link to comment
Share on other sites

  • 2 months later...
  • Moderators
Quote

Promising Law for Boosting Panamanian industry

The text approved by President Varela contemplates an increase of 25% to 40% in tax credits for investment in manufacturing and agribusiness.

Wednesday, May 24, 2017

The law that modifies and adds articles to Law 76 of 2009 and establishes measures for the promotion and development of industry was been worked on jointly by businesspeople from the sector and representatives from the government, and promises to streamline procedures and reduce costs in order to increase the competitiveness of the Panamanian industry.

From a statement issued by the Presidency of Panama: 

On Tuesday, the President of the Republic, Juan Carlos Varela, sanctioned the Industrial Development Law which modernizes the sector and creates the National Program for Industrial Competitiveness in order to achieve greater diversification and links to international markets, generating jobs and economic development.

See details on the benefits of the law for industrial companies. 

During the event, held in the Fernando Guardia Jaén Chamber of the Chancellery, the President stressed the two year long work carried out between the Government and private enterprise, noting that "this Act worked to build consensus, articulating wills, examining proposals and supporting analysis of the Industrial sector in order to share visions of the future development of the sector to which we aspire".

 

http://www.centralamericadata.com/en/article/main/Promising_Law_for_Boosting_Panamanian_industry

Link to comment
Share on other sites

  • 1 month later...
  • Moderators
Quote

Panama construction bounds 24%

skyline-620x264.jpg

NEW CONSTRUCTION, additions and repairs   in Panama jumped, to $967 million in the first five months of the year 24% more than in the same period in 2016

Figures compiled by the Office of the Comptroller General show that the value of new constructions, was  led by the province of Panama, with $659 million, followed by David, Santiago, Chitré, Aguadulce and La Chorrera, with $125 million.

 

http://www.newsroompanama.com/business/panama-4/panama-construction-bounds-24

Link to comment
Share on other sites

  • 4 weeks later...
  • Moderators
Quote

Panama 5.6% growth projection leads region

canal-620x264.jpg 
Canal transits on the rise

PANAMA continues to lead the region in growth projections with The Economic Commission for Latin America and the Caribbean (ECLAC), raising its previous forecast for 2017 to 5.6%.

The projection for the region as a whole iss 1.1% boosted by the moderate recovery of the world economy, a slight rebound in trade and a higher price level of commodities.

The  ECLAC Economic Survey of, presented by Alicia Bárcena, executive secretary of the organization, says  that although the overall growth rate is positive, it is still low.

In the case of Panama, a growth of 5.6% is expected, four tenths above the last projection presented by the agency and giving the Isthmus the highest ranking, followed by the Dominican Republic (5.3) and Antigua and Barbuda (5.0).

Economist Rolando Gordón, says that ECLAC’s estimates are positive for Panama, “but the problem is the bad distribution of growth, because of complaints  about lack of water and other basic services.”

“What is growing is the sector linked to international trade, such as the Free Zone showing a slight improvement, the Canal, airports and construction,” he said.

Stagnant  sectors
He said that sectors such as agriculture, industry, livestock and fisheries, should generate a large number of jobs, but are stagnant.

 

http://www.newsroompanama.com/business/panama-4/panama-5-6-growth-projection-leads-region

Link to comment
Share on other sites

  • 1 month later...
  • Moderators
Quote

Panama’s 5.8% GDP leads region

skyline-620x264.jpg

PANAMA’S  GDP continues to lead the region and remains the envy of much of the world. according to a report by the National Statistics and Census Institute (INEC) of the Office of the Comptroller General,

The Gross Domestic Product (GDP) grew 5.8% in the first half of this year, compared to the same period last year.

“The Panamanian economy is growing despite the slowdown and even recession of our main Latin American markets, largely due to the expansion of the canal and the growth of related activities, such as the ports,” said economist and INEC Director David Saied. According to the economic growth was driven mainly by the 12.6% increase in the Transport, Storage, and Communications category, which includes a 19.7% increase in tolls in the Panama Canal, a positive variation of 13.4% of container movement in ports and a 24.1% increase in air transport. The growth of this item in the semester represented $325.7 million.

Commerce is the economic category that has the greatest weight, with 16.8% of total GDP. This item reached $3,213.billion  at June 30, 2017, and had a recovery of 4.7% in the period under review. This increase represented an additional contribution to GDP of $143.9 million.

The construction sector grew 8.1% in the first half, which is equivalent to an additional contribution of $225.5 million to the Gross Domestic Product. Construction is the second most important category of GDP.

In addition, INEC reported the following growth in the first half: Banking and Finance (Financial Intermediation) 3.1%; Real Estate, Legal Services and others, 3.5%; Manufacturing industry, 2.1%; and the Agricultural Sector 0.2%.

The Panamanian economy leads the region, according to projections by the International Monetary Fund.

 

http://www.newsroompanama.com/business/panama-4/panamas-5-8-gdp-leads-region

Link to comment
Share on other sites

  • Moderators
Quote

Green Numbers in the Real Estate Market

By the end of 2016, the bank loan portfolio for housing and commercial construction exceeded $14.7 billion, and more than 19,000 houses and 545 buildings were built in Panama in the last six years.

Tuesday, September 12, 2017

A combination of low interest rates coupled with a growing and stable real estate supply account for much of the growth in real estate and construction activities in Panama. 

The figures even make it possible to state that despite the growth in the real estate supply, there is still unsatisfied demand, therefore the good performance of the sector should continue in the medium term.

See also "Central America: $265 Million in Residential Projects"

A report from the Superintendency of Banks states:  "..."We note that preferential loans increased by 18.5%, while non-preferential loans increased by 4%. This allows us to infer that the supply of residential construction projects will continue into the future, which will allow a flow that will affect the growth of residential mortgages in the coming years," the report said.

At the end of 2016, the credit portfolio for housing and commercial construction exceeded $14.7 billion, and more than 19 thousand houses and 545 buildings were built in the last six years. These figures include the district of San Miguelito, but exclude the province of West Panama. 

See also: "Central America: $1.6 billion in High Rise Housing"

An article by Martesfinanciero.com reports that  "...The construction sector, up until May of this year, has received $6,571 million in loans, or an increase of 17.9% compared to the same period in 2016, when the figure was $5,573 million, said Carlos Troetsch, president of the Banking Association of Panama in a dialogue within the Capac."

The general manager of Banco Nacional de Panamá, Rolando de León de Alba, commented that "... the areas most valued for the real estate sector are Costa del Este, El Cangrejo, El Carmen, via Argentina, Punta Pacifica, Punta Paitilla, Altos de Panama, Centennial, 12 de Octubre, Panama Pacific, San Francisco, Clayton, Albrook and Altos del Golf, among others."

 

http://www.centralamericadata.com/en/article/main/Real_Estate_Market_in_Green_Numbers

Link to comment
Share on other sites

  • Moderator_02 changed the title to Panama's Economy, Investment Incentives, and Future Economic Outlook
  • 3 weeks later...
  • Moderators
Quote

Moody’s Agency ups Panama outlook to positive

Posted on September 29, 2017 in Panama

skyline-1-620x264.jpg
Panama banking area
Post Views: 161

MOODY’S rating agency has upped Panama’s outlook from stable to positive and reaffirmed its Baa2 investment grade.

It is the first time, in five years, that the agency  has improved the country’s outlook at this level, as it is  in

compliance with the Law of  Fiscal Social Responsibility, in addition to the growth of the country compared to other countries in the region.

Moody’s representatives visited Panama in August and met with the authorities of the Ministry of Economy and Finance (MEF) as part of the annual visit.

The report, presented on Friday, September 29, highlights that Panama’s Baa2 rating reflects credit strengths and a moderate debt burden.

The government of Juan Carlos Varela reduced the deficit of the non-financial public sector, to 1.9% in 2016 from 3.2% in July 2014, when he took office.  However, the

central government has remained relatively constant at around 4% of the gross domestic product (GDP).

The rating agency warned that despite efforts, total expenditure growth has outpaced revenues for the central government, consequently, despite the fact that Panama has had strong economic growth and favourable financing conditions, the debt-to-GDP ratio increased to 39.1% in 2016, from 35% in 2013.

 

http://www.newsroompanama.com/news/panama/moodys-ups-panama-outlook-positive

Link to comment
Share on other sites

  • Moderators
Quote

Panama: $1.5 Billion in New Construction

In the first eight months of the year, the value of construction permits, additions and repairs totaled $1,502 million, 28% more than in the same period in 2016.

Thursday, October 5, 2017

The most recent as figures from the Comptroller General's Office detail that the value of new construction, additions and repairs reported between January and August exceeded $1.5 billion, 28% more than the $1,173,000 recorded in the same period in 2016.

See also: What Will be Built in Central America?

Leading the figures is Panama, with $1,081 million, followed by David, Santiago, Chitré, Aguadulce and La Chorrera, with $202 million. 

Regarding the type of construction, permits for new constructions, additions and repairs were registered for $929 million in residential projects, and $572 million in non-residential projects.

Most residential and non-residential projects were concentrated in the province of Panama, with $736 million and $345 million, respectively.

See report by the Comptroller General of the Republic. (In Spanish)

 

https://www.centralamericadata.com/en/article/main/Panama_15_Billion_in_New_Construction

Link to comment
Share on other sites

  • Moderators
Quote

IMF cuts Panama growth rate projections

Posted on October 11, 2017 in Panama

imf-620x264.jpg
 Post Views: 157
 
THE INTERNATIONAL MONETARY Fund (IMF)  has cut its projections for Panama.’s growth for the current year and through to 2022  point.by half a percentage point.

In a World Economic Forum 2017, report entitled “Looking for sustainable growth”, the IMF  reduced the expected growth for this year, from 5.8%  announced in April to  5.3%.

The projection for 2018  went from 6.1% to 5.6%, while estimates for the average growth until 2022 are   5.5%, half a percentage point below the 6% forecast in April.

The Ministry of Economy and Finance (MEF) issued a statement revising their own economic projections to   5.5%, and not 5.8%, as had previously been predicted,  adding that “the downward revision is attributed to a moderate growth and, in some cases, slower growth in areas  such as financial intermediation, real estate, business and rental, retail and electricity supply. ”

The MEF, however, “remains optimistic about the behaviour of the economy due to the good performance of world trade, which has a positive impact on sectors such as the Panama Canal, the ports and the Colon Free Zone. “The Government considers that investments in public services such as the second line of the Panama Metro, the Urban Renewal of Colon and the third bridge over the Panama Canal will vitalize the economy.

 

http://www.newsroompanama.com/business/panama-4/imf-revises-panama-growth-rate-projections

Link to comment
Share on other sites

  • Moderators
Quote

Panama price index up one percent

prices-620x264.png

THE CONSUMER  price index in Panama rose  one percent in the first nine months  according to data from the National Institute of Statistics and Census (INEC) released  on Saturday, October 14

The September CPI in relation to the same month of 2016 reflected a variation of 0.8%, driven by

transport (4%); education (3.6%); health (2.4%); housing, water, electricity and gas (2.0%); goods and miscellaneous services (1.1%); restaurants and hotels (0.6%); alcoholic beverages and tobacco (0.2%) and Furniture

The rate of inflation in Panama closed 2016 with a cumulative of 1.5%, well above the 0.3% of 2015, according to the official data

 

http://www.newsroompanama.com/news/panama/panama-price-index-one-percent

Link to comment
Share on other sites

  • 2 months later...
  • Moderators
Quote

Panama: Value of New Constructions Up 11%

Between January and October, the cost of new construction, additions and repairs totaled $1.8 billion, 11% more than was reported in the same period in 2016.

Thursday, December 21, 2017

The most recent figures from the Comptroller General of the Republic show that the highest value of new constructions, additions and repairs was registered in the province of Panama, with a total of $1.308 billion. They were followed by David, Chitré, Santiago, Aguadulce and La Chorrera, with $246 million.

See also "Construction in the Region: The Most Important Projects in 2017"

Regarding the type of construction, the highest value was recorded by residential projects, with a total of $1.154 billion, followed by non-residential projects, with $654 million.

See statistics by the Controlaria.

 

https://www.centralamericadata.com/en/article/main/Panama_Value_of_New_Constructions_Up_11

Link to comment
Share on other sites

  • Moderator_02 changed the title to Panama's Economy, Investment Incentives, and Future Economic Growth Outlook
  • Moderators
Quote

ECLAC: Latin America And The Caribbean Should Grow 2.2% In 2018

RTTNews
Dec. 17, 2017, 09:02 AM

(RTTNews) - The economies of Latin America and the Caribbean should experience a moderate recovery in 2018, expanding 2.2% next year after recording an average 1.3% growth this year, said the Economic Commission for Latin America and the Caribbean (ECLAC) in its preliminary report on 2017.

Next year, the global economy should expand at rates close to those of 2017, around 3%, and that there should be greater relative dynamism of emerging economies compared to developed ones. Broad liquidity and low international interest rates should remain unchanged.

ECLAC expects South-American economies to grow 2% in 2018, from 0.8% in 2017. Central America, on the other hand, may expand 3.6%, up from 3.3% in 2017.

The activity in Brazil should improve further, with the country growing 2% in 2018, from 0.9% in 2017. Also, several nations that were growing at moderate rates may see a higher expansion rate - Chile, from 1.5% in 2017 to 2.8% Colombia, from 1.8% to 2.6%

In Latin America, Panama is expected to be the economy that should record the highest growth rate next year (+5.5%), followed by the Dominican Republic (+5.1%), and Nicaragua (+5.0%). Cuba, Ecuador, and Venezuela should show figures of 1%, 1.3% and -5.5%, respectively, while the rest of the economies of Latin America will grow between 2% and 4%.

 

http://markets.businessinsider.com/news/interestrates/ECLAC-Latin-America-And-The-Caribbean-Should-Grow-2-2-In-2018-1011612331

Link to comment
Share on other sites

  • 2 weeks later...
  • Moderators
Quote

Panama economy growth predicted  at 6.8%  

Post Views: 108
 
PANAMA was among the main economies of the American continent in 2017  with a growth of 6.3 percent. and it will grow 6.8 percent in 2018 says local economist Alberto Quintero

Among the factors that have allowed the rebound of our economy for 2017 “we can list the recovery of world trade, the economic growth of the United States of America, and the slight rebound of the economies of Latin America, which have boosted the use of the route of the Panama Canal” he told La Estrella.

“The culmination of the expansion of the Canal is allowing the exploitation of the economic potential of our geographical position. The contributions of the Canal to the central government in terms of revenues will represent around $1.65 billion representing more or less, 20% of all revenues received by the central government in 2017.

Panama’s growth rate is based mainly on the external market structure, with activities linked to its geographical position, such as storage activities, maritime ports, communications, transportation and transhipment of goods, air passenger transit, logistics activities, all will maintain the momentum of our economy in 2018. As a result, it is estimated that Panama’s economy will grow by 6.8%, said Quintero.

 

http://www.newsroompanama.com/business/panama-4/panama-economy-growth-predicted-6-8

Link to comment
Share on other sites

  • Moderators
Quote

Moody’s predicts higher growth for Latin America

skyline-1-620x264.jpg 
Panama's predicted growth rate tops regional forecast
Post Views: 90
 
New York  – The outlook for the credit quality of the sovereign governments of Latin America and the Caribbean in 2018 is stable and reflects an improvement in credit conditions, although there is also evidence of increasing levels of indebtedness and uncertainty surrounding the elections that will take place in several countries this year, says Moody’s Investors Service in a new report.

By 2018, 19 of the 29 Latin American sovereign governments rated by Moody’s (66%) have a stable outlook, two (7%) have a positive outlook, six (21%) have a negative outlook and two (7%) are in review for a possible low rating The largest economies in the region, Brazil (negative Ba2), Mexico (negative A3) and Chile (negative Aa3), are included among the countries with a negative outlook.

The economic growth momentum that began in 2017 will probably continue in 2018. Favorable external conditions, including growth above the potential in the United States and higher growth in China, will boost the region’s average growth to 2.7%, well above the annual rate of 1.9% registered in 2017 and 1.4% in 2016. “However, the region will face the challenge of high levels of debt that will continue to rise”, says Ariane Ortiz-Bollin, Assistant Vice President of Moody’s.

Central banks are expected to maintain accommodative monetary policies, since inflationary pressures will remain contained in most countries. Domestic political factors could boost volatility in financial markets.

The regional perspective incorporates Moody’s opinion that the risk of United States policy for the region is concentrated, in the short term, on the renegotiations of NAFTA. On the other hand, the recent presidential elections in Ecuador, Chile and Honduras, and the upcoming elections in Colombia, Mexico and Brazil will represent challenges for the new governments related to greater social demands and less availability of fiscal resources. The report indicates that governments’ high indebtedness rates are not expected to be reduced, given the fall in government revenues and the rigidity of public spending. Additionally, political restrictions related to a tight electoral agenda will likely hamper fiscal consolidation efforts. However, Moody’s expects debt indicators to rise only moderately for most governments.

 

http://www.newsroompanama.com/business/latin-america-2/moodys-predicts-higher-growth-latin-americaa

Link to comment
Share on other sites

  • 1 month later...
  • Moderators
Quote

Fitch affirms Panama's credit rating

Roberto González Jiménez 17 feb 2017 - 09:40h

The rating agency Fitch has affirmed Panama's designation of BBB with a stable outlook.

The agency noted in a statement the "strong and stable" macroeconomic performance as one of the positive aspects, but also referred to the institutional limitations and the weak credibility of fiscal policy.

It estimated that Panama's economy would continue to grow at 5 percent in 2017 and 2018, one of the highest rates in Latin America.

The agency said that the expansion of the Panama Canal will continue to drive the country's economy and that the scandal surrounding the law firm Mossack Fonseca has not had a discernible impact on the country.

 

Link to comment
Share on other sites

  • 2 weeks later...
  • Moderators
Quote

Panama  flying on one engine needs more inclusion

containere-620x264.jpg
Post Views: 236
 
PANAMA is like a plane flying on one engine and needs greater inclusion of the population in the generation of wealth says Juan Planells director of the National Competitiveness Center (CNC).

Despite its spectacular growth in the last decade, it, “does not compete in assets with any of its Central American neighbors” he told journalists at a recent briefing.

“If we contribute to the activation of the rest of the economy (…) we will have a future of greater well-being,” said Planells, who stressed that public policies “have to try to include sectors that have been marginalized. “and urged small and medium enterprises to” join together  “to demand those public policies ”

The director of the CNC, which has public and private support, acknowledged that in Panama there has been “a lot of concentration” on the efforts around the interoceanic canal “and this has conditioned the economic development of the logistic services sector

“But we cannot neglect the rest of the sectors that have to be integrated so that this other engine that is running at half throttle contributes to the plane taking off, ” he said.

In Panama “regionalization is being emphasized” so that competitiveness can be supported based on the geographic proximity of the actors, “and that will undoubtedly have a direct impact on the populations of the interior that need it so much”.

He said that more ports and communication channels are needed “outside the Panama Colón axis”, the area around the Canal, but linked to them for the “benefit of all”.

Planells pointed out that in the service sector “Panama is a leader in the region, but in the goods sector we are still far from comparing ourselves to any of the Central American countries.”

“We have to work hard on policies that facilitate export procedures, reduce all obstacles and if we do, we would achieve leadership, which should  be our goal in Central America.”

He said that “it remains an aspiration” to lighten the tax burden on small and medium-sized enterprises (SMEs), a sector that represents more than 90 percent of the country’s companies but “is subject to the same rules of the big companies “and that is ” the serious problem of the SME,” he said.

SMEs and informal workers require “temporary support” to improve their condition so that they can integrate into the formal economy.  Planells is concerned about the opportunities that young people require, a sector in which “unemployment is in double digits”, while the national average is 6 percent, because, like women, they are “forgotten areas and that is why we have these inequities. ”

Following the establishment of full relations with China in 2017, he sees great hope for microenterprise ” a sector that activates and contributes through employment and the distribution of wealth, to create a solid base for greater well-being and stability”.

 

http://www.newsroompanama.com/business/panama-flying-one-engine-needs-inclusion

Link to comment
Share on other sites

  • Moderators
Quote

Panama: Construction Starts 2018 on the Rise

In January 2018 the cost of new construction, additions and repairs grew by 22% compared to the same month in 2017, rising from $95 million to $117 million.

Thursday, March 8, 2018

The most recent figures from the Comptroller General of the Republic show that the highest value of new construction, additions and repairs was registered in the district of Panama, with a total of $53 million. It was followed by Colón, Arraiján, Santiago and La Chorrera, with $28 million, $17 million, $6 million and $5 million, respectively.

See "Construction in Central America Still Growing"

Regarding the type of construction, in the first month of 2018 the highest value was registered in residential projects, with a total of $60 million, 87% more than was reported in the same month last year. 

See also "Residential Construction Figures in Panama"

For the months in question, the category of non-residential construction registered a drop of 11%, falling from $63 million to $53 million. 

See full statistics. (In Spanish)

 

https://www.centralamericadata.com/en/article/main/Panama_Construction_Starts_2018_on_the_Rise

Link to comment
Share on other sites

  • Moderators
Quote

Panama  construction on the upswing

construction-620x264.jpg
Post Views: 223
 
“THE DISRICT  of Panama led the way in new construction, additions and repairs in the first month of 2018. Figures from the Comptroller General show  an increase  of 22%  over Jan. 2917.

The value of new construction in Panama, was  $53 million. It was followed by Colón, Arraiján, Santiago and La Chorrera, with $28 million, $17 million, $6 million and $5 million, respectively.

The highest value was registered in residential projects, with a total of $60 million, 87% more than in the same month last year.

Non-residential construction registered a drop of 11%, falling from $63 million to $53 million.

 

http://www.newsroompanama.com/business/panama-4/panama-construction-on-the-upswing

Link to comment
Share on other sites

  • 4 weeks later...
  • Moderators
Quote

Panama: Bank Credit Grew Very Little in 2017

At the end of last year the banking system's loan portfolio ended up with a balance of $66,117 million, just 1.4% more than the $65,187 million reported at the end of 2016.

Wednesday, March 28, 2018

The Comptroller General of the Republic reported that the moderate increase is partly explained by a contraction recorded by the external sector's portfolio, as between 2016 and 2017 it dropped from $16,557 to $14,560, which is equivalent to a 12% drop.

On the other hand, for the years in question, trade credit registered growth of 3%, rising from $5.766 billion to $5.926 billion.

In the case of the loan portfolio of the services sector, it also reported increases from $5.197 billion to $5.365 billion, which represented a variation of 3%.

See complete figures.

 

https://www.centralamericadata.com/en/article/main/Panama_Bank_Credit_Grew_Very_Little_in_2017

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...