Economic growth in 2017 exceeded expectations, and although the outlook for 2018 is optimistic, the entity points out that there is a need to reduce tax expenditure and rationalize subsidies.
One of the best parameters of the strength of an economy is the amount of businesses it creates. In Panama, 47% fewer companies were created in 2017 than in 2016.
A new proposal from the business sector aims not only to propose solutions to the fiscal problem but also strengthen productive areas in order to grow in a sustainable manner.
The National Association of Private Enterprise (ANEP) has summarized its proposals based on four pillars: economic growth, combating and reducing poverty, strengthening democratic institutions, and a pact on fiscal responsibility.
The corporation has decided to suspend operations indefinitely "due to the continuing deterioration of economic and business conditions ."
From a statement issued by Kimberly-Clark:
CARACAS, Venezuela, July 9, 2016 / PRNewswire / - Kimberly-Clark Corporation (NYSE:KMB) today announced the indefinite suspension of all operations in Venezuela, with immediate effect, due to the continuing deterioration of economic and business conditions.
The country continues to experience significantly lower growth than its neighboring countries in a context of low investment, high emigration, low competitiveness and political paralysis, and with significant fiscal pressures.
From the IMF report:
Main policy issues
- Raising potential growth will require far-reaching structural reforms to foster competitiveness and investment, supported by measures to reduce crime and regulatory uncertainty.
"In the second quarter of 2015 slow economic growth remain and public finances continue to deteriorate, increasing the risk of fiscal unsustainability".
From a report by the Salvadoran Foundation for Development (Fusades) "Economic Situation in Q2 2015":
Threats made by organized criminals to transporters were carried out on monday when 7 drivers who had not joined the strike ordered by gangs were killed.
EDITORIAL
For the second consecutive day thousands of people "... were affected by a transport strike which was apparently the result of a vicious rumor mill unleashed by gangs that terrorized employers and employees in the sector, after the burning of several units and murder of motorists. "
In the face of virtual political paralysis the productive sectors have agreed to an agenda of projects and initiatives to promote economic growth and employment generation.
From a statement issued by the Costa Rican Union of Chambers and Associations of Private Business Sector:
A comparison between the crisis in the United States in 1929 and the one occurring now in Greece clearly shows that the sooner the costs of an exit from the crisis are assumed, the less time will be spent suffering from the measures taken to overcome it.
EDITORIAL
Obviously some aspects of the current economic tragedy of Greece are different from those suffered by the United States during Twenties of the last century. The situation in the Hellenic country is worse, not only because of its aging population structure, but because of its integration into the Euro zone.
The sum of growing state debt, increasing insecurity and lack of government actions aimed at recovering real production, is creating a perfect storm.
"... The Salvadoran Foundation for Economic and Social Development (FUSADES) said the country could be entering into a severe financial political and social crisis, if a stop is not put to the uncontrollable debt levels, and if the engines of economic growth keep being smothered. "
Increased borrowing costs, a disincentive to foreign investment and distrust of economic performance, are part of the expected scenario if public debt growth is not controlled.
Prensalibre.com reports that "... The draft budget for 2015 presented by the Ministry of Finance, amounting to $9.250 million (Q71 thousand 840.8 million), contemplates taking on new debt of about $2 billion (Q15 billion), of which $1.6 billion (Q12 thousand 334 million) came from bonds and loans. "
Businessmen are decrying a lack of technical support from the State and difficulty in accessing bank financing.
Since 2012 nearly 450 workshops making handmade furniture in San Juan Sacatepequez have closed. A study by the Association for the Development of Communications reveals that a lack of funding, investment in machinery and technical support, are negatively affecting this sector.
The convulsions in Venezuela should not be seen as merely a political issue, but also from the point of view of the economic insecurity it creates in the region.
The effects of the crisis in Venezuela are not only reflected in the economy but spread quickly to the rest of the continent, particularly in countries with the most trade and economic ties.
The South American country is the second biggest destination for Nicaraguan exports.
Exporters to Venezuela "must be prepared" to diversify their market, due to the current situation taking place in the South American nation, said Azucena Castillo, general manager of the Association of Producers and Exporters of Nicaragua. Venezuela is the second biggest destination for Nicaraguan exports.
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