For money to reach people's pockets, there must first be jobs and an economy that can sustain it, not fairy tales or money flying in the air. The Minister of Economy and Finance, Felipe Chapman, stated that “money in the pocket is not throwing money from a helicopter.” The minister explained that giving away money may calm things down today, but it leaves the same hole, or worse, tomorrow. Slower, but firmer: real, well-paid, and sustainable jobs, especially from the private sector. He said that this year more economic movement is expected, driven by logistics, commerce, and the return of foreign companies that are once again looking at Panama with interest. Chapman declared that Panama has been removed from one of the international lists related to money laundering, after being on it for over a decade. According to Chapman, the country is now seen as a cooperative partner, and this is already being noted in European banks and companies that are considering returning. But not everything is resolved. The country is still on another list, this time for fiscal matters. These are adjustments to comply with international rules, especially for multinational corporations, without touching existing incentives. Regarding state spending, he said that the Ministry of Economy and Finance is reviewing laws that currently bind budget management, especially those that influence the public payroll and public employment. “Bread today, hunger tomorrow,” as the saying goes. Chapman assured that the path the government sees is different. No express solutions. Chapman wanted to make one thing clear: these reforms do not mean new taxes. Here, the minister was honest: the exit will not be quick. New laws are being prepared, including those related to the so-called “economic substance,” which implies sitting down to talk with several sectors. These changes, he added, will gradually arrive at the Assembly during this period. “Chen chen” is not given away, it is earned.
Panama's Economy Minister: Money is not given away, it is earned
Panama's Economy Minister Felipe Chapman stated that sustainable economic growth requires real jobs, not handouts. He noted the country's improved image and expects a return of foreign investment but warned of the need for slow, solid reforms without tax increases.