Panama social unrest predicted for 2023

2,965Views 0Comments Posted 23/12/2022


After the social and political crisis that Panama experienced in July with the mass protests over the high cost of fuel, food, and medicines, few results have emerged from the installation of the dialogue table in Penonomé, which has been on hold since last October.

Political analyst José Eugenio Stoute, told TVN social weariness has not stopped but deepened, because the underlying problems have not been resolved, much less addressed, so in  2023, social peace will break, since the situation is unbearable.

"The waste continues, the corruption continues, the mockery of the Panamanian people continues," Stoute said and in 2023 the situation will be very serious 

He stressed that the National Assembly cannot be exempt from the causes that led to the social outbreak, since they have also "made fun of the Panamanians", comparing the spending of this State Body with that of Colombia, which, having 296 seats, receives $79 million less than that of Panama.

He said the Assembly's budget has the endorsement of the President, describing it as “complicity”.

Wages decrease 

Stoute also talked about the decline in the wages of Panamanians, according to figures from the International Labor Organization, which ensures that wages have been reduced by 25%, while the Economic Commission for Latin America and the Caribbean (Cepal) points out that, in 2021, 700,00000 Panamanians lived in poverty, in addition, they indicate that close to 400,000 earn less than $600. per month

Stoute said that the problem of the Disability, Old Age, and Death Program of the Social Security Fund (CSS) has a very short fuse that will explode at any moment.

He described as "irresponsible" the actions of the Government, which said that they did not have the political wealth to make decisions, thinking about the re-election of 2024.

He said this situation puts the country's investment grade at risk because risk rating agencies are already reducing the country's rating.

In 2019, the country was in an economic slowdown that was worsening, so by aspiring to return to the numbers of 2019, a country in crisis is being aspired to.

"We cannot wait any longer, they are leading the country to a catastrophe” pointing out that El Salvador has just increased the minimum pension to $400. with less economic capacity than Panama, so what is happening with the CSS?