Latin America & Caribbean
Panama
Panama, situated on the isthmus connecting Central and South America, is renowned for the remarkable human engineering achievement known as the Panama Canal. This canal slices through the country's heart, connecting the Atlantic and Pacific oceans, serving as a vital shipping route. Panama is a country with a population of approximately 4.4 million people, and its economy serves as a significant hub for transportation and logistics, as well as a center for trade and finance. Country growht is projected to be between 6.3% and 6.5%, driven by sectors such as construction, transportation, logistics, tourism, and mining.
Over the period spanning from 2014 to 2019, Panama's Gross Domestic Product (GDP) expanded at an impressive average rate of 4.7% outperforming the LAC's 1.1% growth rate during the same period. However, in 2020, Panama's GDP experienced a substantial contraction of 17.7%, which was the most significant decline in the entire region. This decline was primarily attributed to the service-oriented structure of Panama's economy. Nevertheless, Panama demonstrated a robust economic recovery in subsequent years, with growth rates of 15.8% in 2021 and 10.8% in 2022.
Panama is expected to need further fiscal reforms in the medium term. These reforms would be essential to align with the targets set by the Social and Fiscal Responsibility Law (SFRL), encompassing areas such as pension adjustments, expenditure management, and tax reforms. Projections indicate that the public debt and fiscal deficit are expected to decline to 55.3%t and 1.5% of GDP by the year 2025.
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Renewable Resources and Alternative Energy, Infrastructure, Food and Beverage
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How is this information gathered?
SDG Investor Maps employ an 8-step methodology, combining data research and stakeholder consultations to identify Investment Opportunity Areas (IOAs) and potential business models with significant financial and impact potential.
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