May 17, 2022

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Job creation is a challenge for Panama

According to economist Ernesto Basan, a base weight for this purpose would be similar to that of the state over private investment, which would include reform of the Social Security Fund (CSS) disability, old age and death plan.

Analyst La Estrella de Panamá told the newspaper that although the expected increase in GDP this year will be between seven and nine percent, ordinary citizens do not realize this.

According to Conservative figures, unemployment reached 11 and 18 percent last December, but Bazán estimates it could be as high as 20 percent and warned that these figures should be addressed with a public investment plan that will drive the canal country’s economic machinery. .

“The unemployment rate is an excellent indicator of household spending potential,” he stressed.

According to the expert, the mining sector has represented two percent of Panama’s GDP for the past three years, today it represents nine percent and may be more than 10 percent.

However, there is a repercussion due to businesses opening up after the impact of the Govt-19 epidemic, but that does not mean new employees. He made it clear that economic growth does not have to affect much employment.

He recalled that the construction, real estate, retail and tourism sectors were affected by Kovit-19 and were not in a position to invest.

If it is true that it is possible to create employment indirectly by investing in infrastructure such as highways, subways, bridges, hospitals, schools, rather than by hiring government officials, he said.

The researcher explained that the Social Security Fund (CSS) is urgently needed to resolve a bankruptcy regarding the restructuring of the disabled, old age and death plan.

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That is, he noted that the day would come when pensioners would not receive the money, and if nothing was done, the money would be available within two years. “Today the CSS has become a political plunder,” he denounced.

On the other hand, he predicted that if the current situation surrounding the war between the United States, Ukraine, Russia and the North Atlantic Ocean worsens, it will lead to higher inflation for Isthmus and higher food prices. Ingredients in general.

When armed conflicts occur, it is obvious that there will be obstacles to reduce trade and trade, and as prices rise, we are the ones who take the price.

ode / ga