He added that the favorable forecast is the result of the robust dynamics of the service economy, an indicator that, according to social organizations, is not noticed by the majority.
Speaking at the 50th annual meeting of the Ibero-American Federation of Stock Exchanges and the Latinex Group Investors Forum, Alexander stated that the Monthly Index of Economic Activity (IMAE) increased by 7.8 percent from January to June.
In his opinion, the engines driving this trend include trade, construction, tourism, banking, insurance, transport and electricity, among others.
He also explained that during this phase, among other things, trade in the Colón Free Trade Zone grew by 32.6 percent, sales of new cars by 22.2 percent and the value of building permits by 66.1 percent.
The influx of tourists to the Isthmus has also increased, which has contributed to the increasing revival of the economy, he noted.
On the other hand, he pointed out that economic growth is affecting a larger generation of jobs and especially formal jobs, a claim that popular groups have disputed in recent street demonstrations demanding access to work and decent wages.
By 2024, Panama’s estimated economic growth of 5.0 percent is based on the potential to be a connecting center for logistics and digital, industry, tourism, trade, construction and electricity, among others. , the official stated.
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