Martinelli Lays Out a New Way for Panama

The difficult job of overcoming the economic crisis will have a very eclectic guide who will combine big state projects with the drive of private enterprises.

Thursday, July 2, 2009

The economic maneuvering announced in new Ricardo Martinelli’s inaugural address, will have four main axes: The construction of the Metro and the completion of big public works projects that are already underway, along with the maintenance of the momentum of the construction industry after completing the expansion of the Canal. A social policy that includes the use of subsidies for the construction of housing projects. A Ministry has been created for the promotion of small and medium sized businesses. Finally, opening the Panamanian economy to more international trade through more free trade agreements.

The article by Angel López Guía in closes with a phrase where Martinelli intended to continue his plan for the government: “We will make Panama the best place in Latin America to do business.”

More on this topic

El Salvador: $73 million for Infrastructure and Social Programs

November 2011

The European Union has announced contributions for social and electoral programs, as well as infrastructure improvements.

The nonrefundable collaborative agreements signed are for projects for rural roads, community development, poverty reduction, and assistance to those affected by the recent rains among others schemes.

Martinelli's Aggressive Economic Plan

July 2009

The State will invest $12 billion during the five years of the Martinelli administration, 7% of the expected GDP.

In US Dollars, the projected public investment will triple the amount of the previous government, which invested 4.5% of the gross domestic product.

Martinelli aims for the state to replace the private sector as the economic engine of the country through investment in infrastructure, at times when the crisis has lowered employment and foreign direct investment.

Panama: 8,000 Homes Projected Per Year

July 2009

The plan to promote the construction of affordable housing seeks to incentivize the construction industry and to absorb unemployed laborers.

The goal of Martinelli’s government is to build 8,000 homes for social benefit between $18,000 and $30,000, with support from the private sector.

El Salvador's Saca under fire on both sides

June 2008

President Antonio Saca of El Salvador headed into his last year in office under fire from both sides of the political spectrum.

Luis Membreño, an economist, said the government had lost its way after a "sound approach" in its early years that led to the recovery of economic growth and a much-needed tax reform.

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