Looking for an Upturn

Looking for an Upturn


The Panama Canal generates 6.5% of the country's GDP. Panama's economy refuses to budge. GDP growth has averaged barely 1% a year over the past four years and foreign direct investment, which fueled the growth of Panama's financial services industry in 1990s, has slowed to a trickle. The country is struggling to meet budget deficit targets, but a planned expansion of the Panama Canal, further development of the land surrounding it and new trade agreements could give the country the economic boost it needs. Panama passed a fiscal responsibility law last year limiting the country's nonfinancial public sector deficit to 2% of GDP. Dom

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