Country’s economic growth remains strong

Recent growth within the country’s economic sector measured 10.1 percent, ensuring that Panama keeps its place as one of the fastest developing economies in the world.

Those results contradict the forecasts of some financial analysts that predicted that housing crises in the United States and slowing markets in Europe and Asia would throw the economy into a recession.

Most of the country’s economic activities registered a significant increase, with the exception of energy generation, cattle and shrimp fishing industries.

Agricultural sectors registered an increase of 9.1 percent, due to higher staple food prices, such as rice and corn. Farmers expanding the number of hectares devoted to profitable export products, such as watermelon, cantaloupe and pineapple, contributed to the increase.

Other sectors registering important growth included the construction industry, with reported gainst of 33 percent; commercial activities up 7.5 percent; the hotel and restaurant industry showed an increase of 9.5 perccent.