Panama predicts 2007 growth of more than 6 pct
HAVANA, Sept 16 (Reuters) - Panama’s economy will grow more than 6 percent in 2007, the country’s president said on Saturday, predicting healthy showings from the port sector, tourism, telecommunications and the free-trade zone.
Panama’s gross domestic product grew 6.4 percent in 2005 and official forecasts for this year are between 7.5 and 8 percent.
“We have not finished calculating the figures but there is going to be sustainable economic growth of above 6 percent,” Martin Torrijos told Reuters on the sidelines of the summit of Non-Aligned nations.
Panama is one of Latin America’s fastest-growing economies, spurred by increased canal traffic, a booming construction sector, buoyant banks and increased exports of tropical fruit.
The economy grew 7.9 percent in the first half of 2006.
Panama is staking further strong economic growth on an expansion of its canal, a subject on which the Central American state plans to hold a referendum.
© Reuters 2006. All Rights Reserved.
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