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Panama's economy roars along at 10.4 percent growth in third quarter

Friday, December 16, 2011

Panama's gross domestic product for the third quarter of 2011 rose 10.4 percent from a year earlier, the government statistics agency reported.

Driven by heavy government infrastructure spending -- including the $5.25 billion expansion of the Panama Canal -- Panama's diverse services-based economy has been boosted by private construction, foreign investment and international trade through the canal and ports.

Panama's roaring economy could expand by around 10 percent in 2011 and remain among Latin America's top performers in 2012, according to government projections.

Original source: Reuters