The credit rating agency Standard & Poor's (S&P) improved the outlook to stable and has reaffirmed Panama's investment grade at BBB (adequate capacity to meet its financial obligations, but more subject to adverse economic conditions).

According to S&P, the rating is based on solid economic performance and economic diversification, as well as leading GDP growth among nations of similar development.

They highlighted that the improvement in the outlook reflects the confidence of the rating agency that the current economic situation will continue consistently during the next two years, providing solid support for favorable economic growth.

The rating agency expressed its expectation that the future administration maintains prudent fiscal management and solid macroeconomic policies, factors that will contribute to keeping fiscal deficit levels at low levels.

Growth
They also projected average GDP growth of 5% in the coming years, supported by investor confidence and a robust pipeline of investment projects from both the public and private sectors.

Finally, they recognized that economic growth exceeded expectations, highlighting the solidity of its economic base.

During 2021, GDP registered a growth of 15.8%, followed by 10.8% in 2022.