President Obama Says Hillary Clinton Would Be an 'Excellent President'

President's comments came one day before Clinton is expected to announce bid.

"She was a formidable candidate in 2008. She was a great supporter of mine in the general election. She was an outstanding secretary of state. She is my friend. I think she would be an excellent president," Obama said at a news conference in Panama.

"When she makes a decision to announce, I'm confident she will be very clear about her vision for the country moving forward if she announces," he added.

"If she decides to run, she's going to have some strong messages to deliver," he said.

Asked whether he thinks the Democratic field is wide open, Obama declined to weigh in.

"Not only have I run my last election, but I am not in the business of prognosticating future elections," he said. "That's your job and there is no shortage of people who are happy to opine on that. I will not be one."

Clinton is expected to announce her presidential campaign on social media on Sunday.