Panama provides a high standard of living, favorable tax laws, a tropical climate and friendly locals. The following are some important considerations if you’re thinking about moving to Panama.
The Panama Metro announced the start of the blank running period without passengers, within the project known as the Line 2 Branch, which connects with the stations of the Higher Specialized Technical Institute (ITSE) and the Tocumen Airport.
It consists of the construction of a 1.7 kilometer long viaduct and the rehabilitation of the four lanes of the Pan-American highway, from the highway exit to the El Espino sector in the district of La Chorrera.
The Reverted Assets Administrative Unit (UABR) of the Ministry of Economy and Finance (MEF) has documented that private investment in the Amador Causeway exceeds $70 million, which has generated direct income for the institution in the form of rental fees for more than $30 million.
The Quarterly Gross Domestic Product (GDP) of Panama registered an increase of $11,317.7 million or 9.5%, with respect to the similar period of the previous year.
The construction of the Caribbean Corridor project will link the Panama-Colón highway with the Costa Arriba and it will cost approximately $91 million dollars.
Despite the fact that the Economic Commission for Latin America and the Caribbean expects the economic slowdown experienced by Latin America and the Caribbean to increase in 2023, with growth of 1.4%, the growth projection for Panama’s for next year is currently at 4.2%, placing it as one of the highest in the region.
According to the National Institute of Statistics and Censuses (INEC) of the Comptroller General of Panama, the projection of economic growth is in a context of strong macroeconomic restrictions that are hitting the economies of the region, with inflationary pressures, a low dynamism of job creation, falls in investment and growing social demands.
The Air Panama company announced its reactivation of direct flights between Panama City and the district of Pedasí, in the province of Los Santos, with a frequency of 3 weekly flights (Wednesday, Thursday and Sunday), which will boost tourism in that region.
The Panamanian government maintains conservative forecasts of economic growth of around 5% by 2022, according to the Minister of Economy and Finance (MEF).
