While current President, Martin Torrijos, faces faltering public approval ratings due to rising food and fuel costs, the good news is that the economic activity for Panama was up almost 9.5% for April, which is in stark contrast from the lows we experienced in March.
The government cited new construction new development as well as hospitality as growth-rich industries.
The government also mentioned that March numbers were low, due to the early timing of Easter this year. Analysts are eagerly awaiting numbers from May in order to get a clearer picture of the current economy, of which those same analysts are optimistic.
On Tuesday, June 24th, 2008, Reuters reported “With 12-month inflation running at 8.8 percent investors are watching how Panama, which uses the dollar as its national currency, can bring higher living costs under control”.
All of this news is beneficial for our selective group that has decided to make Panama our home. Get the most out of your dollar – contact us today about retiring or living in Panama. Our land development deals are beautiful and economical. Visit our website at www.panama-land-for-sale.com.
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