Business leaders condemn inaction on economy crisis

Panama’s Chamber of Commerce, Industries and Agriculture came out swinging on  Sunday, August 9, calling for action to address the economic crisis that the country’s families are facing.

“If the lack of urgency in addressing economic issues and the review to gradually lift current restrictions persist, the negative effects of the pandemic will continue to increase, with the consequent impact on the Panamanian family, which sees its sustainability diminish every day,” said. the business union.

Unemployment
“Unemployment in the formal sphere reaches alarming figures, to which is added the closure of companies, a situation that worsens as the days go by. Panamanians have been forced to seek sustenance in the informal sector, ”the statement added.

Entrepreneurs also expressed concern about a 3.3% increase in the state budget, which is confident about the recovery of the private sector. “But we know that such performance depends on reopening and economic reactivation plan with metrics that must be made visible as soon as possible. The more time passes, the more difficult it will be for companies to recover or even reopen; consequently, impacting the projected income to support this bill ”, said the Chamber.

It ends  by reiterating their commitment to face the situation from the private sector and emphasizing that prompt and responsible reactivation is required in the country to preserve health and promote a return to activities that are essential to generate jobs.