Foreign investment in Panama reaches 2,874.6 million dollars in six months

Foreign investment in Panama reached 2,874.6 million dollars in the first half of this year, 5.8% more than in the same period of 2016, the Ministry of Economy and Finance (MEF).

Panama, Nov 9 (EFE) .- Foreign investment in Panama reached 2,874.6 million dollars in the first half of this year, 5.8% more than in the same period of 2016, reported today the Ministry of Economy and Finance (MEF).

In a brief press release, the Director of Economic and Social Analysis of the MEF, Raúl Moreira, indicated that the "largest amount of that investment corresponds to profits reinvested in the economy, which reached the figure of 1,894 million dollars. "

This situation" reflects the confidence of the foreign investor in the future of Panama, "since they could have sent these funds to their parent company but" decided to position themselves in the most strategic sectors of the national economy, "added Moreira, of According to official information.

Between January and March, foreign direct investment (FDI) in Panama reached 1,315.4 million dollars, 10.6% more than in the first quarter of 2016, reported last June the National Institute of Statistics and Census (INEC).

In that period, "foreign companies decided to reinvest their profits, which is the greatest boost to the growth of investments, totaling 964 million dollars, 25% more than the 770.9 million of the same period last year, "he said at the time. official announcement.

FDI in Panama reached 5,209.3 million dollars in 2016, 15.9% more than the 4,494.2 million of the previous year, reported last April by the Ministry of Economy and Finance (MEF).

Regarding the calculations of the country's economic growth for this 2017, Moreira said Thursday that it remains at 5.5% of gross domestic product (GDP), according to the statement of the MEF.

The official information added that the International Monetary Fund (IMF) foresees that Panama's economy will expand this year by 5.3% of GDP, the World Bank by 5.4% and the Economic Commission for Latin America and the Caribbean (ECLAC) by 5.5%.

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