The economic slowdown of more than B/.3,500 million in the country has affected the dynamism of the economy, causing the main economic pillars to keep down directly affecting the creation of formal jobs and the closure of companies, according to experts.
The debt kept by the Government to the private sector amounts to more than B/.2,500 million, which has affected the small contractors, many of whom have had to file for bankruptcy, according to the former Minister of Economy and Finance, Frank De Lima.
The Government´s inability to pay the debt kept to the private sectors, the red tape and bureaucracy are factors that affect the economic indicators for worse.
According to statistics by the Comptroller General, until last June, the value of the buildings in Panama decreased 11.1% compared to same period last year, which indicates that there is a decline in new constructions.
With regard to the international trade, records indicate that the exports decreased in 7.3% in the first semester, as well as in 13% in the movement of load in the national ports.
The former Minister said that for the economy to regain its dynamism, it is necessary for the Government to pay off the debt to the private sectors thus making the money circulate and generating a greater number of jobs.
The expert on labor matters, René Quevedo, the problem is that there is also a trend towards the increase of job informality. According to official figures, up to March unemployment was in 5.6%.
"There is a slowdown in the economic issue detectable from all points of view", said businesswoman Elisa Suarez.
She said that anything that helps streamline the economy, whether in public investment, pay-off of public debt, streamlining procedures so that more projects are put into operation and more jobs are created is positive.
"We hope that the Government understands that to take the country forward we have to work together in effective partnerships rather than each looking after their own," he said.
She asserted that some public policies consistent with the country´s reality are needed, that may provide legal security necessary to make decisions on investment and, above all, we need to resume dialogue.
De Lima said that besides there is concern over the more than B/.1,000 million in paralyzed works, including the hospital city, the Amador Convention Center, the food cold chain, hospitals, among others.
"It is discouraging that the assigned budget for 2017 for the hospital city is only B/.30 million and no more, which indicates that it will continue to be paralyzed", he said.
He also indicated that for the Amador Convention Center there is an allocation of B/.30 million, however, the Authority of Tourism of Panama (ATP) has a split budget for a new Center in Azuero, with a cost of B/.200 million.
Suarez said it is time for authorities to make decisions, be it whether it will continue with the work or will tell the people they will not continue with these.
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