Analysis by Region - Emerging Markets - Panama

Analysis by Region - Emerging Markets - Panama

We recently increased our 2023 GDP growth outlook for Panama by 0.6ppts to 6.3% y/y. The revision reflects partial data indicating the labour market has been resilient and tourism-related figures are encouraging, which supports our view that private consumption will expand significantly this year. We believe momentum will persist until Q1 next year, which on top of positive base effects has prompted us to raise our 2024 GDP growth forecast by 1.3ppts to 4.2% y/y.

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