Cortizo: Panama will be one of the first countries to recover after the pandemic
The President of the Republic, Laurentino Cortizo, said that the estimates of international organizations indicate that Panama will be one of the first countries to recover economically after the Covid-19 pandemic. However, this can only be achieved, if all sectors work together.
This was stated by the Panamanian president this Thursday, July 30 at the inauguration of the new directive of the Panamanian Association of Company Executives (Apede).
The president indicated that the projections of the Ministry of Economy and Finance point to a 9% drop during 2020, with a recovery of 4% by 2021. This calculation is in line with what was expressed by analysts at Bank of America who are expecting a decline of gross domestic product of 10% this year and an improvement of 5% by end of 2021.
Despite this scenario, Cortizo said that Panama will recover "earlier" than other more developed countries. He emphasized that by 2021 and 2022 the Panamanian economy will grow and recover.
The President, on the other hand, reiterated that the Government has established a process of reopening the economy by blocks or specific activities, which will take into account hospital capacity and risk levels.
Cortizo pointed out that a working group was set up a week ago to analyze economic activities to determine which ones can open based on health indicators.
We have a long way ahead, while we do not have the vaccine, we have to learn how to live with the virus, he said.
Cortizo explained that his plan is considering all the socioeconomic sectors of the country.
The president stated that initiatives are also being taken into account to maintain the greatest number of jobs and in search of a worker-employer balance. In addition, work is underway to decrease the number of procedures to streamline investment in the country.
He recalled that he has already submitted six bills to the National Assembly to streamline the country's economy, such as the tax relief bill, the "Pronto Pago" which provides for a 10% reduction to taxpayers who pay their taxes on time .
Likewise, he indicated that they have already disbursed 2 million dollars as part of the financial plan that the Government will give to the country's productive sectors. He announced that as of August 3 the Savings Bank and the National Bank of Panama will be receiving requests for financing to access the funds (150 million dollars) that will go to small and medium-sized companies, as well as to the agriculture sector.
The new president of Apede, Elisa Suárez de Gómez, assured in her inauguration that her union is declared in permanent session to offer sustainable and viable contributions that allow the revival of the Panamanian economy.
Suárez de Gómez emphasized that this group, starting this Thursday, July 30, will offer a more dynamic rhythm than the one it has always contributed, due to the different times and challenges they face.
The country is at a decisive moment fighting a virus that attacks our weaknesses, and to continue we must recognize our mistakes. Apede will remain free of vested interests, we will know how to be allies of those who make the decisions, but we will not be complicit, explained Suárez de Gómez, who replaces Mercerdes Eleta de Brenes, in command of Apede.
We are willing to go the extra mile ... we will never give up because it is not an option, she said.
The president indicated that the projections of the Ministry of Economy and Finance point to a 9% drop during 2020, with a recovery of 4% by 2021. This calculation is in line with what was expressed by analysts at Bank of America who are expecting a decline of gross domestic product of 10% this year and an improvement of 5% by end of 2021.
Despite this scenario, Cortizo said that Panama will recover "earlier" than other more developed countries. He emphasized that by 2021 and 2022 the Panamanian economy will grow and recover.
The President, on the other hand, reiterated that the Government has established a process of reopening the economy by blocks or specific activities, which will take into account hospital capacity and risk levels.
Cortizo pointed out that a working group was set up a week ago to analyze economic activities to determine which ones can open based on health indicators.
We have a long way ahead, while we do not have the vaccine, we have to learn how to live with the virus, he said.
Cortizo explained that his plan is considering all the socioeconomic sectors of the country.
The president stated that initiatives are also being taken into account to maintain the greatest number of jobs and in search of a worker-employer balance. In addition, work is underway to decrease the number of procedures to streamline investment in the country.
He recalled that he has already submitted six bills to the National Assembly to streamline the country's economy, such as the tax relief bill, the "Pronto Pago" which provides for a 10% reduction to taxpayers who pay their taxes on time .
Likewise, he indicated that they have already disbursed 2 million dollars as part of the financial plan that the Government will give to the country's productive sectors. He announced that as of August 3 the Savings Bank and the National Bank of Panama will be receiving requests for financing to access the funds (150 million dollars) that will go to small and medium-sized companies, as well as to the agriculture sector.
The new president of Apede, Elisa Suárez de Gómez, assured in her inauguration that her union is declared in permanent session to offer sustainable and viable contributions that allow the revival of the Panamanian economy.
Suárez de Gómez emphasized that this group, starting this Thursday, July 30, will offer a more dynamic rhythm than the one it has always contributed, due to the different times and challenges they face.
The country is at a decisive moment fighting a virus that attacks our weaknesses, and to continue we must recognize our mistakes. Apede will remain free of vested interests, we will know how to be allies of those who make the decisions, but we will not be complicit, explained Suárez de Gómez, who replaces Mercerdes Eleta de Brenes, in command of Apede.
We are willing to go the extra mile ... we will never give up because it is not an option, she said.
Comments
EL Realitomanman 5 year ago
The current Panamanian leadership consists of idiots, clearly. Especially Mr. COHEN (!) (Panamanian President my ass). But that happens when you turn a cattle-farmer into a politic-puppet. The same happend with Ronald Reagan. Since he was in the white house, the drug and slave-businesses were flourishing.
How can you promise to recover from something that you dont know the full effects so far.
No PRO-active plan, only re-active and listening what WHO and the "Experts" advise. Panama is so far from recovering from anything..no matter in which time frame.
But a clown in front of a clapping crowd always works, history proven.
How can you promise to recover from something that you dont know the full effects so far.
No PRO-active plan, only re-active and listening what WHO and the "Experts" advise. Panama is so far from recovering from anything..no matter in which time frame.
But a clown in front of a clapping crowd always works, history proven.
Morris Palmer 5 year ago
Ok here is how the solution applies. My tax for this year due next month and based on last years estimated income is $2200. My actual income due to government mandated shut down is $0. Government solution I save 10% and pay $1980 estimated tax on $0 income. 🙄. For the sectors to work together the sectors have to work. So every single riny hostal needs to stay closed but we need to open auto dealerships so we can shop for cars???? Wonder who owns those? The last thing we need is another group. If you dont have a plan by now you wont ever have one.
General Butler 5 year ago
https://www.technocracy.news/yale-professor-hydroxychloroquine-is-the-key-to-defeating-covid-19/
To believe this virus is a valid reason for destroying the world just makes you a complete moron.
Look around. Hardly anyone is dying except the independent business owners committing suicide and sick people who cannot get regular medical care due to the INSANE lockdown. Read this and you will understand why the entire world is committing slow motion synchronized suicide.
https://greatgameindia.com/belarus-world-bank-coronavirus-conditions/