Panama will grow most

Panama this year will grow faster than any other Latin American country.

The Panamanian economy is projected to end 2012 with an increase in GDP of 9.5%, according to a report by the Economic Commission for Latin America, released earlier this month.

In general, the regional economy will grow moderately, with an average increase by country of 4.7%.

Modest growth is largely due to a slow recovery in the United States, the region’s main business partner.

In Latin America, the country with the slowest growth is Paraguay, whose economy is expected to contract by 2% (figures represent the percentage of Gross Domestic Product growth projected for 2012).

1. Panama (9.5)
2. Costa Rica (5.0)
3. Nicaragua (5.0)
4. Guatemala (3.5)
5. Honduras (3.2)
6. El Salvador (2.0)