Since the country took over administration of the Panama Canal in 1999, the canal has been an important source of revenue for the government, as Panama’s more business-like model has ensured a steadier stream of profits and revenues over the years. As a result, the government has increased tolls on several occasions and has worked to improve...
To what extent will the global economic recovery and shifting trade patterns aid revenue forecasts?
For the past decade Panama has registered impressive economic growth. According to the World Bank, GDP growth averaged 6.8% from 2000 to 2012, while government figures show double-digit growth for four of the past seven years. Economic development has been fuelled by heavy public sector spending on infrastructure, particularly the $5.25bn expansion of the Panama Canal, which should ensure long-term growth.
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