The Chamber of Commerce, Industries and Agriculture of Panama has made an urgent call to address the financial crisis of the Social Security Fund (CSS), pointing out that it is essential for the economic stability of the country. According to the guild, the CSS is the backbone of the Panamanian social security system and its current situation represents an obstacle to economic recovery.
The development of the Río Indio project and the mine in Donoso are also strategic topics that need to be addressed, having been approved by the Board of Directors of the Panama Canal. The Chamber emphasizes that the success of the Economic Reactivation Plan announced by the National Government will largely depend on the private sector's ability to generate jobs and attract investments.
On the other hand, the crisis facing the construction industry in Panama is highlighted, with more than 26,000 unemployed workers and over 100 stalled projects. The discussion of the Preferential Interest Law, which expires in December, is urgent and needs to be addressed to boost the reactivation of this sector.
Additionally, there are warnings about the evaluations that rating agencies will conduct in March and April, indicating that without a structural reform of the CSS and advancements in other strategic sectors, the country risks losing its investment grade. This could result in increased financing costs and a lower capacity to attract investments, negatively affecting the Panamanian economy.
In this context, the reform of the CSS stands out as one of the most urgent measures to ensure the well-being of the population and create a conducive environment for investment and job creation. Rating agencies have been emphatic about the need to resolve the issue of pensions and retirements in Panama. Furthermore, the construction of a new reservoir presents an opportunity to improve water supply and ensure the viability of future operations of the Panama Canal, a key sector for the economy in the country.
