Panama tops worst health record with biggest econmic decline

“Panama begins the year with the worst health situation in the region and closed 2020 with the most abrupt economic decline in Latin America ” was the take away that Panama’s  Chamber of Commerce got from President Cortizo’s address to the nation on January 2.

 The business union pointed out, immediate action plans are urgently needed.

“There was a lack of self-criticism in the face of mistakes made, it was decided to specify the fulfillment of promises with inconsistencies and the need for a short-term health, economic and social roadmap was obviated,” said the Chamber.

In its balance of the president’s speech, the organization highlights as positive the Panama Solidarity Plan that, although “it has fallen short in support of the middle class”, with its help to vulnerable sectors it has maintaind  social peace, and various measures to support micro and small entrepreneurs with results “to be seen”.

It  questioned that Cortizo highlighted the promise of constitutional reforms as fulfilled. “These reforms have been left in limbo because a process began in which the Executive did not take over as demanded by the electorate, it has not been followed up or continued and, therefore, lacks any result,” he added.

Added to this, said  thechamber the lack of regulation of the Public-Private Partnership law; as well as programs whose executions fall “in doubt.”

In addition, the country closes with a fall in tax revenues of approximately 30% and the State’s operating expenses, and mainly its payroll, continues to grow “without any sign of cost containment.”

“In addition, the government administration’s commitment to transparency, zero corruption, and accountability was required, particularly in a time of such difficulty. Citizens demand authorities and state entities oriented to work for the public good and not the interest of individuals, governed by honesty and away from crime, “said the union.