1945

The year 1989 saw a continuation of the severe recession experienced during the two previous years and which was particularly pronounced in 1988. The backdrop to this recession was a serious political crisis which entered a period of “wait and see” during the first half of the year (while the electoral process was underway) and then worsened leading eventually to foreign military intervention. Against this background, the gross domestic product again fell, this time slightly (-0.8%), following the 16% drop in 1988. As a consequence of this, in the last two years alone per capita gross domestic product fell so sharply that it was almost 20% less than in 1980.

Related Subject(s): Economic and Social Development
Countries: Panama
/content/books/9789210583299s003-c015
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