The IDB calls for reducing inequality and increasing productivity

He Inter-American Development Bank (IDB) presented its report on opportunities for Panama, among which it lists the challenges that the new government that takes office on July 1 this year will have to face in order to consolidate its economic growth.

Among these challenges are territorial imbalances, limited fiscal space and deficiencies in social spending which resulted in distinct and persistent differences in the standard of living of citizens.

In this context, the IDB recommends that it is necessary to implement a series measures that reduce inequalityfacilitate productive diversification and promote efficient and sustainable management of financial and natural resources, especially water.

Since these are challenges that must be taken up by the government of whoever wins the elections on May 5, The IDB team recently met with the presidential candidates and their work teams, to whom this Report was presented.

Continental Bank continues to see Panama as a benchmark for growth in Latin America and the Caribbeanwith an average increase in the economy of around 6% per year between 2000 and 2019 and an admirable post-pandemic recovery with an average growth of 11% between 2021 and 2023.

It maintains several programs that are carried out in the territory of Panamaamong which stand out, in terms of infrastructure, the improvement of tourist facilities in Tierras Altas de Chiriquí and the restoration and preservation of Portobelo.

In addition, he contributed to the improvement of the historic complex of the Castle of San Lorenzo del Real, on the Costa Abajo in Colón and the rescue Anthropological Museum Reina Torres de Araúz.

Theirs recommendations to the Panamanian state, three thematic pillars are summarized and these are human development, increase in productivity and institutional modernization.

By the end of August, IDB executes projects in Panama for more than 2 billion dollarsin various sectors of the economy.