Monday, Jun 05, 2023

Cortizo: Panama will be one of the first countries to recover after the pandemic

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.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.

General Smedley Butler 3 year ago
Here is the story linked below that everyone should be reading. But Panatimes would not publish it after it was sent to them twice already.
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.
EL Realitomanman 3 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 matter in which time frame.
But a clown in front of a clapping crowd always works, history proven.
Morris Palmer 3 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 3 year ago


Related Articles

Nvidia Joins Tech Giants as First Chipmaker to Reach $1 Trillion Valuation
Drone Attack on Moscow's Wealthiest Neighborhoods Suspected to be Launched by Ukraine
UK Prime Minister Rishi Sunak to Hold Power Talks with President Biden in Washington
AI ‘extinction’ should be same priority as nuclear war – experts
Prominent Hacker Forum RaidForums Suffers Substantial Data Breach
Nvidia CEO Huang says firms, individuals without AI expertise will be left behind
WPP Revolutionizes Advertising with NVIDIA's AI Powerhouse
Two US Employees Fired For Chasing Robbers Out Of Store As They Broke ''Company Policy''
If you donated to BLM, you got played
Pfizer, the EU, and disappearing ink - Smoke, Mirrors, and the Billion-Dose Pfizer Vaccine Deal: EU's 'Open Secret
Actor Tom Hanks told Harvard University graduates to be superheroes in their defense of truth and American ideals, and to resist those who twist the truth for their own gain
The Sussexes' Royal Rebound: Could Harry and Meghan Markle Return to the UK?
A provocative study suggests: Left-Wing Extremism and its Unsettling Connection to Psychopathy and Narcissism
France Arrests 10 on Suspicion of Failing to Respond in Time to Migrant Drowning
Neuralink Receives FDA Approval for First-in-Human Clinical Study
Saudi Arabia and Canada Restore Diplomatic Relations
Bernard Arnault Loses $11.2 Billion in One Day as Investors Fear Slowdown in US Growth Will Reduce Demand for Luxury Products
Russian’s Wagner Group leader: “I am not a chef, I am a butcher. Russia is in danger of a revolution like in 1917.”
TikTok Sues Montana Over Law Banning the App
Ron DeSantis Jumps Into 2024 Presidential Race, Setting Up Showdown With Trump
Last Walmart in North Portland Closing Down
Florida's DeSantis seeks to disqualify judge in Disney case
Talks between US House Republicans and President Biden's Democratic administration on raising the federal government's $31.4tn debt ceiling have paused
Disney has canceled plans to build a new campus in Florida worth almost $1 billion
Biden Administration Eyeing High-Profile Visits to China: The Biden Administration is heating things up by looking into setting up a series of top-level visits to Beijing by top officials in the coming months
New evidence in special counsel probe may undercut Trump’s claim documents he took were automatically declassified
A French court of appeals confirmed former President Nicolas Sarkozy's three-year jail term for corruption and influence peddling
Debt Ceiling Crises Have Unleashed Political Chaos
Weibao Wang, a former software engineer at Apple, was charged with stealing trade secrets related to autonomous systems, including self-driving cars
Mobile phone giant Vodafone to cut 11,000 jobs globally over three years as new boss says its performance not good enough
Elon Musk compares George Soros to Magneto, the supervillain from the Marvel Comics series.
Warren Buffett Sells TSMC Shares Over Concerns About Taiwan's Stability
New Study Finds That Secondary Bacterial Pneumonia Is a Major Cause of Death in COVID-19 Patients Who Require Ventilator Assistance
King Charles III being crowned.
'Godfather Of AI' Geoffrey Hinton Quits Google To Warn Of The Tech's Dangers
A Real woman
Vermont Man Charged with Stalking After Secretly Tracking Woman with Apple AirTag
Elon Musk Statements About Tesla Autopilot Could Be 'Deepfakes,' Lawyers Claim. Judge Evette Pennypacker Does Not Understand How Far and Advanced This Technology Became
Ukraine More Prepared for Counterattack as Reinforcements Arrive
UK Prime Minister Rishi Sunak and Italian Prime Minister Giorgia Meloni Discuss Migration, Defence, and Ukraine
Tucker Carlson is back, soon!
AT&T's Successful Test of Satellite-Based Phone Call Raises Possibility of Widespread Coverage
CNN: "Joe Biden is asking for four more years — when 74% of Americans think the country is heading the wrong way“
Turkish President Recep Tayyip Erdogan Cuts Short Live TV Interview Due to Health Issue
US Congresswoman threaten Twitter Files journalist with arrest
Pulitzer Prize-winning journalist Seymour Hersh slams New York Times' pro-government stance and treatment of sources
Enough is enough: it's time to end the war in Ukraine. While Russia may be to blame for starting it, Russia is not the one refusing to stop it
Fox News Settles their case with Dominion Voting Systems for a staggering $787.5 MILLION
The land of the free violence
Speaker Kevin McCarthy