Panama’s economy posted GDP growth of 2.4% in 2009. The international financial crisis led to this break in the growth rate, which had averaged 9.6% in 2005-2008. The non-financial public sector recorded a slight deficit equivalent to 1.0% of GDP, as against a 0.4% surplus in 2008. The current account was balanced at the end of 2009, compared with a deficit equivalent to 11.5% of GDP in 2008. Unlike 2008, when inflation reached 6.8%, the annual rate for 2009 was more in line with historical levels, at 1.9%.

Related Subject(s): Economic and Social Development
Countries: Panama
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