Panama bets that this year 2022 the economic growth will be equal to the year 2019

The Minister of Economy, Héctor Alexander, said that in 2021 the growth of the Panamanian economy was one of the highest in the world.

After two years of the pandemic, Panama is betting that in 2022 its economic growth will be equal to that of 2019.

In addition, he projects that by 2023 it can already present sustained growth. This was stated by the Minister of Economy, who stressed that "in 2021 the growth of the Panamanian economy was one of the highest in the world, because we had a recovery that many Panamanians did not expect."

He cited as an example that, in 19 months, from September 2020 to April 2022, formal employment grew by nearly 200,000 people, an increase of around 22%, which means approximately 10,000 people per month.

“The growth of the economy and formal employment are signs of reactivation generated by the implementation of a coherent economic strategy, in the face of the global health crisis caused by covid-19.

One of the great pillars of the economic recovery experienced by the country was the way in which the health crisis caused by covid-19 was attacked, where the lives of Panamanians were given priority, through the timely purchase of vaccines. and investing in the health system, both in the acquisition of supplies and adapting hospitals, as well as in the hiring of medical personnel.

Before the arrival of the pandemic, the economic strategy consisted of maintaining the total budgeted expenses and compensating for the drop in income with borrowed money, in addition to the implementation of a dynamic restructuring of the budget to emphasize channeling resources to the two main objectives: Caring for the lives of Panamanians and the Panama Solidario program.

$3.5 billion was restructured to emphasize national priorities. However, "the great challenge is not only the reactivation of the economy, but the sustainability of future growth."

Source:

https://www.laestrella.com.pa/economia/220705/panama-apuesta-2022-crecimiento-economico-sea-igual-2019