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Economy

Economy shrinks for first time in six years

  Panama's economy, as measured through the Monthly Economic Activity Index fell 2.65 percent in April as compared to the same month in 2008, revealed the Comptroller General. It is the first monthly contraction in six years, according to official records. The last economic contraction was reported in April of 2003, and in the last 71 months it has always been positive. "We could see this coming," said economist Hedmond Ríos, who pointed out that official statistics have started to reflect the economic downturn experienced by the country. He said ......


Economy

Customs strike comes to an end

The strike by Customs workers ended yesterday after President Martín Torrijos agreed to provide 197 temporary workers permanent status, which means the payroll of the department will increase by $1 million per year. The announcement was made by Luis Castillo, the acting director of Customs, who explained that the change will be published shortly in the government's Gazette. With regard to job classifications and salary adjustments, the Ministry of Economy and Finance, Customs ...

Economy

Companies say public works projects should go on

Construction companies have asked incoming Public Works Minister Federico José Suárez to maintain the current government's plan of infrastructure investment to cushion the impact of the global economic crisis on Panama. Suárez was invited to the most recent board meeting of the Panamanian Chamber of Construction, where he heard requests and suggestions raised by the members. The guild's president, Jaime Jované, told La Prensa that the implementation of these ...

 

 

 


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