On behalf of the executive and in order to respect the principles of responsibility in public finances, the Minister of Economy and Finance, Héctor Alexander, presented to the full legislative body a report on General treasury account which corresponds to the fiscal period of 2022, according to what is typified in Title V, Article 161, Number 8, of the Political Constitution of the Republic of Panama.
The report is structured around six fundamental themes: economic performance in 2022; Fiscal balance, Execution of the general state budget; Public debt, Treasury Single Account and Panama Savings Fund.
The document points out that the Panamanian economy as a whole managed to overcome the economic effects caused covid-19 pandemicin a complex international context, marked by the war between Russia and Ukraine, the rise in world price levels and the negative economic effects resulting from the pandemic in some countries.
He Gross domestic product (GDP) growth. amounted to 10.8% in real terms, which consolidated the economic recovery.
It states in detail that it is GDP at current prices in 2022 totaled 76,522.5 million dollars, which means that the country has reached and exceeded the level of GDP before the pandemic (year 2019: 69,721.8 million dollars), showing the resilience of the economic structure and the effectiveness of various actions to provide incentives for economic recovery, implemented by the public and private sectors.
Economic activities with the highest growth in 2022 were: Artistic, entertainment and recreational activities, Hotels and restaurants, Construction, Professional, scientific and technical activities, Trade and transport, warehouse and post office.
He GDP in current pricesin 2022 it was a total of 76,522.5 million dollars, which means that the country has reached and exceeded the level of GDP before the pandemic (year 2019: 69,721.8 million dollars).
Results reflect commitment People’s government in the prudent and responsible management of public finances and compliance with the Law on Fiscal Social Responsibility, so that Panamanian society can be assured of seriousness and transparency in the management of fiscal policy, concluded Alexander.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
