Fiscal Balance in Panama
Panama - Fiscal BalanceEconomic momentum is expected to have picked up somewhat in the first quarter, although available indicators suggest growth was still fairly moderate. The monthly economic activity indicator for January-February averaged slightly higher than the readings of the fourth quarter, supported by the shipping- and tourism-related sectors as well as higher electricity production. However, data from the Panama Canal and national ports for March indicates a contraction in shipping volumes in the month, while trade data from the Colón Free Trade Zone also shows both import and re-export activity plunged in the first two months of the year, boding poorly for growth. In more positive news, S&P recently upgraded Panama’s credit rating to BBB+, citing solid growth and sound fiscal management. On the political front, the PRD’s Laurentino Cortizo won the presidential elections, and will take office on 1 July.
Panama - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.4||-3.2||-2.3||-1.9||-1.7|
5 years of economic forecasts for more than 30 economic indicators.
|Stock Market||438||0.0 %||May 13|
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April 22, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 3.7% year-on-year in February, ticking up from January’s 3.6% print. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in February was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal and national ports); water and electricity supply; and hotels and restaurants.
April 15, 2019
Consumer prices rose 0.4% month-on-month in March, up from the 0.1% increase logged in February.
April 9, 2019
The upcoming Panamanian general elections, scheduled to be held on 5 May, will likely see Laurentino Cortizo of the center-left opposition party PRD (Partido Revolucionario Democrático) win the race for the country’s executive office, ousting the ruling conservative Panameñista Party (PP) of incumbent President Juan Carlos Varela from power.
March 20, 2019
The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) fell from 3.8% in December to 3.6% in January. According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in January was largely driven by growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal); water and electricity supply; and hotels and restaurants.
March 15, 2019
Consumer prices rose 0.1% month-on-month in February, contrasting the 0.3% fall in January.