The economic issue, the central axis of the pre-election campaign

Although in Panama the problems affecting its population are recurrent and date back to many administrations, the economic issue will be a focal point of the election campaign with a view to the May 5, 2024 elections.

Political and economic experts agree that although there is a worrying list of problems the Panamanian electoratethe economic aspect is what attracts the most attention.

High living costs, unemployment, informality, crisis of old-age and death disability (IVM) of the Social Security Fund (CSS) program These are some of the issues that concern ordinary citizens who will have in their hands the decision to choose the future authorities that will govern Panama for the next five years.

In this regard, the political analyst, Jamie Porcell indicates that of course there is a long list of problems affecting the population, but what worries them the most are those concerning the economy.

“Undoubtedly, the economic issue, in terms of employment, cost of living, is what worries people. Although it exists great list, and it includes security, education, healthit’s all important,” Porcell points out.

Please note that all topics chained and have to do with the quality of life that people are looking for.

In this sense, the economist Olmedo Estrada points out: “one of the problems we have in Panama are economic problems such as the high cost of living, the increase and shortage of some foods, people without work, without income, the problem that families have no way to cover their needs, these are the priorities that exist at the moment .

The economist recalls that many people are out of work, investments are not coming, there are countless companies that are closed pandemic and that they still haven’t been able to reopen their doors. Added to this, there is no public policy that allows these companies to reopen, reactivate and in turn employ Panamanians who are unemployed.

“There are a number of problems that are directly related to economic issuesThis is a case of informality that also affects us, and threatens us to have a country tied to non-payment of taxes, non-payment of social security and this is a chain that multiplies at all levels, this is a priority to have at this time in the country,” says Estrada.

The specialist explains the situation he is facing Panama it is, on the one hand, a consequence of the pandemic, and on the other, insufficient management of public finances. “The fact that a deficit is created in the budget is because there is no effective financial management, if those who manage public finances know how to do it, because otherwise they would not be at the head of the body that manages public finances.

“They know that they have to make important decisions such as cost containment, reduction of non-productive costs, revision of subsidies that affect us today due to the increase they had in recent years. Government You can’t solve everything based on subsidies, you really have to reconsider which ones should be kept and which ones should be abolished, because they have already played their part.

Contrary to what they suggest Porcell and EstradaPolitical analyst Danilo Toro believes that there are three issues that are more important than economic ones, namely education, corruption and justice.

Toro states that the population speaks of an economic issue because he is the one who sees more directly, because he has not been taught that there are very important aspects for the functioning of a state.

“I would put three topics, and even the economy would put it in fourth place. In the current conditions, we are not even classified as a country of needs, Panama is classified as a high-income country UN, IDB, World Bank, IMFwhen you see the indicators, we are off the radar of countries that are classified as needy.”

As for corruption, the analyst reminds that it is a general problem of society, not a matter of politicians, “we are politically corrupt because society is corrupt”.

Despite what Danilo Toro, the economist, said Rene Bracho points out: “Definitely, both official statistics and surveys express the need for us as a country to take care of the unemployment problem. Since before pandemicthat unemployment reached 7.1% and now that it remained at 9.9%, this figure represented a level of concern for many families who went to look for work and cannot find it or simply after the pandemic when the country’s economic recovery began and macroeconomic growth does not reach household income.

“The concern and challenge we have as a country is to generate growth in activities that have a high multiplier effect of jobs such as construction, tourism, the agricultural sector, agro-industry, Manufacturing. These are the sectors we must strive for in order to develop the competitiveness of companies in these sectors. Also promote sectoral growth in these areas,” he says.

Bracho points out that although debt is a problem, to the extent that a country manages to grow, the absolute value of the debt is not fundamental, the fundamental thing is the debt relative to the growth of the country’s wealth or Gross domestic product. “To the extent that a country manages to promote growth in gross domestic product, wealth is sustainable growth over time and prosperous, to the same extent that it can cope with the debts that had to be incurred to deal with the pandemic,” he said. accents.

According to the survey from June Gallup Panamathe high cost of living and unemployment are the biggest headaches for Panamanians at home, along with corruption.

The survey describes this situation, in addition to pessimism about the situation families financially and lack of security in the country, among the main social scourges.

When asked by Fr the direction of the country86% believe that it is not correct, while 8% believe that it is on the right track.

And when you internalize why Panamanian He thinks so, he believes that the cost of living (32%), unemployment (31%) and insecurity (13%) affect his well-being in the environment.

These three problems have overshadowed the others, which people, despite being also a priority to solve, do not see as urgently.

no doubt an economic issue It will be the central axis of various campaign teams aiming to win power in the May 5, 2024 elections.