In Panama, 77% of companies do not plan to make new investments during the fourth quarter of the year, and 38% do not intend to hire more employees.

According to a survey conducted by the Center for Economic Studies of the Chamber of Commerce of Panama, 10% of the companies surveyed expect to increase staffing, 50% will remain the same, while 2% do not know.

In this regard, the president of the National Council of Private Enterprise (Conep), Severo Sousa, told Panamaamerica.com.pa that “… Historically, a pre-electoral year is one of recession and, under these conditions, it will be difficult for companies to be able to increase their payrolls, but rather they will take care of the ones they have and in some cases reduce them in order to face the fall in income that they are having.”

Sousa added that “… This in turn will result in the economy flowing more slowly, because having more people on the street with no income is less expenditure they can make and less money flowing.”