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Panama Taking Crisis Medicine
Panama -
Panamanian minister of Economy and Finances,
Hector Alexander, called preventive medicine
the measures being taken against the
international crisis. During celebrations of
Economists Day the official recalled that
when he reached office the 2004
administration of the central government was
in the red, and took 16 months to alleviate
the situation.
During that time we were able to implement
public policies to solve the problems but,
unfortunately, we had to borrow money and
invest valuable human resources and time to
confront the responsibilities, he added.
In this manner, he explained that the
executive had to generate savings to
strengthen the capacity of investments and
reduce dependence on loans.
He recalled that the economic growth
achieved by the government allowed reducing
unemployment and poverty as well as
improving distribution of incomes.
Alexander pointed out that the employed
population rose from 1.2 billion in 2005 to
1.4 last year with an average annual growth
of 4.1 percent.
We did the right thing at the right time,
because all governments must keep house and
take preventive measures during times of
bonanza to prevent the severe impact of a
crisis such as this, he explained. |
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