In the view of the OECD, “the country depends to a large extent on a few sectors, such as construction, the financial sector and the Panama Canal, which will be insufficient to support greater socio-economic progress and greater inclusion.”

The “Multidimensional Study of Panama,” produced by the Organization for Economic Co-operation and Development (OECD), concludes that the country needs more resources to finance investment in key social areas, including education and skills.

The study undertakes a diagnosis of the current situation in the Panamanian economy and the main barriers to long-term sustainable development. The report indicates that, although economic growth over the last ten years has reduced poverty and improved the average income of the population, this growth model has been based mainly on physical investments and a limited group of activities, such as construction and the financial sector.

The OECD notes that productivity growth is constrained by “significant weaknesses in the area of education, innovation and infrastructure gaps.”