Panama: Selected Economic Indicators

 

 

 

 

Est.

Proj. 1/

 

2001

2002

2003

2004

2005

(Annual percentage change, unless otherwise indicated)

 

 

 

 

 

 

Real economy

 

 

 

 

 

Nominal GDP

1.6

3.9

4.8

7.4

5.4

Real GDP (1996 prices)

0.6

2.2

4.3

6.2

3.5

Consumer price index 2/

0.0

1.8

0.1

1.5

2.0

Unemployment

14.0

13.5

13.1

11.8

...

 

 

 

 

 

 

Money and credit

 

 

 

 

 

Broad money 3/

9.5

0.9

4.6

8.2

7.0

Credit to private sector

8.1

-7.2

2.0

10.7

8.0

Deposit rate (6-month)

5.5

3.8

3.6

2.2

...

 

 

 

 

 

 

(In percent of GDP, unless otherwise indicated)

 

 

 

 

 

 

Savings and investment

 

 

 

 

 

Gross domestic investment

19.4

18.0

21.5

22.0

20.6

National savings

17.9

17.5

18.0

20.0

19.1

External savings

1.5

0.5

3.4

2.0

1.5

 

 

 

 

 

 

External sector

 

 

 

 

 

Current account

-1.5

-0.5

-3.4

-2.0

-1.5

Capital and financial account

7.5

3.0

1.3

3.0

1.9

Real effective exchange rate (depreciation -) 4/

-1.4

-0.1

-6.5

-0.7

...

External public debt

53.0

51.7

50.5

52.6

49.5

 

 

 

 

 

 

Nonfinancial public sector

 

 

 

 

 

Revenue and grants

23.8

22.9

22.4

21.3

22.5

Expenditure

26.1

26.2

27.2

26.3

26.2

Balance, excluding Canal Authority

-2.3

-3.3

-4.7

-5.0

-3.6

Canal Authority 5/

0.5

0.5

1.0

1.7

1.5

Balance, including Canal Authority

-1.8

-2.7

-3.8

-3.3

-2.1

Sources: Panamanian authorities; and IMF Staff estimates and projections.

1/ Fund staff projections.
2/ End of period.
3/ Corresponds to cash in circulation plus total private sector deposits in the banking system.
4/ For the year 2004, information is available up to October.
5/ Balance of Canal Authority, after transfers of Canal tolls and distribution of profits to the government.

 

1 Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities.