INSUBCONTINENT EXCLUSIVE:
the Minister of Economy and Finance.From September 2020 to April 2022, the employed population increased by 214,672 people, representing a
growth rate of 13.2%.Formal employment saw a significant rise of 196,738 people (21.6%), leading to a decrease in the unemployment rate from
18.5% in September 2020 to 9.9% in April 2022, a decline of 8.6%.During a presentation to the Chamber of Commerce, Industries, and
economy is driven by construction, logistics and transport
(Photo Internet reproduction)in 2022, surpassing global and regional economic growth
The expansion was mainly driven by trade (28.4%), construction (22.6%), and transportation and logistics (14.1%).According to the minister,
Foreign Direct Investment has played a vital role, increasing by 49.3% by the third quarter of 2022.Alexander emphasized that Panama has
will contribute to being delisted as a high-risk third country with strategic deficiencies in anti-money laundering and counter-terrorism
financing, enhancing international cooperation with the Caribbean, Europe, and other regions.The minister also highlighted the importance of
Public-Private Partnerships in infrastructure development, particularly projects such as the East and West Pan-American Highway and the
fourth power transmission line, which are in the pre-feasibility and feasibility stages.Regarding the banking sector, Alexander stated that
it has remained robust despite the challenges posed by the COVID-19 pandemic, maintaining capitalization and liquidity.In April 2023, total
assets reached US$141.461 billion, representing a 4.0% increase compared to the same month the previous year.Accumulated profits during that
period amounted to US$937.8 million, showing a growth rate of 44.8%.The minister also emphasized prudent debt management, with the
debt-to-GDP ratio standing at 52.1% in March 2023, equivalent to US$45.8987 billion.
