The Institute of Statistics and Census (INEC) announced that the rate of economic growth in Panama has fallen to 3.2% from January to May 2018. According to some economists, the sector of construction is not decreasing due to the strike or the increase in wages, but because of the excess supply of premises and the low demand of buyers, and this has affected the growth of the country more than others.
The International Monetary Fund (IMF) warns that the sector may lose more momentum in the coming months to 3.3%, six tenths less than what it calculated in April, because of the political uncertainty that is living Nicaragua and the negative moment in the construction sector that influences the demand for Panama. The forecasts of the Panamanian Chamber of Construction (PACHC) suggest that the sector could lose more dynamism in the coming months with the approach of the elections, the entry of a new presidential term and the recent penalization of the construction sector.
