Economic Survey of Latin America and the Caribbean 1997-1998

image of Economic Survey of Latin America and the Caribbean 1997-1998

The Economic Survey of Latin America and the Caribbean, 1997-1998 is the fiftieth edition in this series. To mark this milestone, a special chapter has been included in this edition which traces the history of the publication and outlines the way in which the economic situation in the region has been viewed during each of the periods examined. Once again, the Survey has been published as a single volume consisting of three parts. Part 1 contains an overview of the economy in 1997 and the first half of 1998. Part 2 presents reports on the 20 countries of Latin American and on the situation in the countries of the English-speaking Caribbean. Part 3 reviews the 50 years of the Survey.




The Panamanian economy picked up in 1997, posting GDP growth of 4.3%. This performance, a marked improvement on the 2.4% growth recorded in the previous year, may be attributed to a number of factors: the recovery in re-exports from the Colón Free Zone, the upsurge in capital expenditure -directed essentially to the development of production infrastructure- and the expansion in private consumption following increases in employment, wages and credit. The inflation rate, traditionally among the lowest in Latin America, was close to zero.


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