After two consecutive years of double digit growth, Panama’s economy slowed down a bit to 8.4% growth in 2013.
“The easing in growth comes as investments in large-scale infrastructure projects, including the $5.25 billion expansion of the Panama Canal, draw to a close.” (Reuters)
One of the other major infrastructure projects included Line 1 of the Central America’s first Metro system, which is set to open on April 5 with plans to add two more lines. Other projects consist of new roads, hospitals, the Cinta Costera extension, and cleaning the Panama Bay.
Panama managed to escape the global recession and expanded at an average rate of 8% over the past six years.