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Economic Survey of Latin America and the Caribbean 2007-2008

Macroeconomic Policy and Volatility

image of Economic Survey of Latin America and the Caribbean 2007-2008

The Economic Survey is one of ECLAC's flagship publications, and has been issued since 1948. This new edition covers the region's economic performance in 2007 and the first semester of 2008, and suggests growth estimates for this year.

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Panama

In 2007, the economy of Panama expanded by 11.2%, in what was the fourth year of intense growth in a context of consolidation of the fiscal and employment situation. The non-financial public sector posted a surplus equivalent to 3.5% of GDP, and the unemployment rate stood at 6.3% in August (compared with 8.7% a year earlier). The favourable macroeconomic performance facilitated compliance with several of the central targets set for 2009 within the current government’s programme. However, inflation rose substantially (6.4%) and the balance-of-payments current account deficit widened to 8% of GDP.

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