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There is no miracle cure for Panamanian economy

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  • Tue, 02/20/2018 - 19:55
Juan Planells
  • EFE

According to data from the World Bank, the economy in Panama in the past ten years has been characterized by a "rapid growth", a panorama that in perspective leads to a positive forecast for this 2018, when "it remains in 5.4 percent, the highest in Latin America".

But when discussing about economics, there are many edges that influence and decide in the short, medium and long term. According to the Director of the National Competitiveness Center (CNC) of Panama, Juan Planells, there is much to be done in this area to ensure a prosperous, robust economy with a positive balance.

In a press conference, the expert said that the economy in the Central American country "is like a plane flying with one engine" and therefore, it is necessary to increasingly help the population to take part in wealth generation, to include marginalized sectors and to build more ports and communication channels, among other aspects.

Engineer Planells highlighted that decisions should be made in the "benefit of everybody" and with the help of all the people involved. "If we contribute to the activation of the rest of the economy (...) we will have a future of greater well-being".

The director of the competitiveness center, an institution that has public and private support, has recognized that Panama is a leading country in the Central American region that has "been focused a lot" on the inter-oceanic canal, and that has conditioned economic development to service sector. Logistics is a good part and that is very good". He also highlighted in statements published by EFE, that a positive aspect is that "there is emphasis on regionalization", which undoubtedly "will directly impact on the inland people that need it so much".

Planells used the opportunity to give his recommendations to the economic sector of the country, "We have to work hard on policies to facilitate export procedures, reduce all obstacles, give more support and lighten the tax burden of small and medium-sized industries, focus on unemployment and encourage labor field for the youths.

Yelly Bernal

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