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Panama forecasts five percent economic growth in 2025

Panama City, Oct 6 (Prensa Latina) Panama’s Ministry of Economy and Finance detailed on a briefing that the nominal Gross Domestic Product is expected to go up by five percent while an inflation of two percent is estimated by 2025.

The Minister of Economy and Finance, Felipe Chapman, unfolded that the macroeconomic projections were used to create the bill of the General State Budget for 2025, an amount of US$ 26.8 billion, which will be presented next week before the Parliament.

Chapman explained that calculations are grounded on projections given by the International Monetary Fund, and are aligned with estimates of organizations, such as the World Bank and the Economic Commission for Latin America and the Caribbean.

The minister acknowledged that the global economic scenario continues to be uncertain, while he praised the measures adopted by the Government to present a feasible, credible and responsible budget that ensures the financial and fiscal stability that the country deserves, and that fosters confidence, investment, consumption and, therefore, the economic boom.

The authority advanced that in that direction, the promotion of public policies are included to boost employment and development, thus granting an environment conducive to the social welfare and prosperity of citizens.

The main goal of the budget is to be consistent with a strategy to reduce the fiscal deficit while maintaining public investment in key areas, with transparency and accountability, and a clear strategy to overcome current structural challenges, the minister remarked.

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