Panama

The Panamanian economy grew by 3.9% in 1998, less than the 4.7% recorded in 1997. Despite this, per capita GDP increased by 2.3%. The slowdown was essentially due to external factors, including those that affected activities in the Col6n Free Zone and the bad weather caused by El Nino. These negative developments were counteracted by the good performance of the domestic market, which was buoyed up by higher levels of spending on consumption and investment, and increases in employment and real wages. Despite the worldwide financial turbulence of 1998, the country’s international banking centre remained very stable, and liquidity remained abundant, leading to a slight downward trend in interest rates.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions