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Monday, May 27 2019 @ 12:18 PM UTC

Quijano Says Purchasing Power of Panamanians Is Not In Crisis

Money MattersThe Minister of Trade and Industry (MITI), Ricardo Quijano, who is part of the delegation accompanying the President in Davos Switzerland, where they are attending the World Economic Forum, denied on Friday that the purchasing power of the Panamanian people is going through a crisis. The minister gave the example of the sales of vehicles and properties, as well as bars and taverns that are full, the same as the shopping centers, even on Sundays. According to Quijano, now when the Panamanians walk through commercial stores, it's not just because they are window shopping, but because they came to actually buy something and spend money at the various stores.

However, he acknowledged that prices for products of high need (basic food basket) have increased, while the government tries to find a strategy to sell rice - the main component of the Panamanian diet - at a lower price.

Ricardo Quijano, Panama's Minister of Trade, Commerce, and Industry

However, despite everything, Quijano said the world sees this Central American country as a vibrant nation, because many foreign companies have made ​​multi million dollar investments here. In that sense, by phone to TVN News, the Minister suggested that the Panamanian people should be prepared for the opportunities that lie ahead. (Estrella)

Editor's Comment: Quijano is absolutely correct. There has been a degree of inflation in Panama, however increasing wages have more than outpaced that growth, so therefore the average person has more in their pocket to spend now than before. Add to that the expanding economy and the number of new jobs that have been created, so practically everyone who wants a job is working. The political opposition of the PRD and the Panameńistas would be utter fools to try to criticize the Martinelli administration on fundamental economic issues. Well, they will do it anyway, because they know many Panamanians don't understand the simple and basic elements of national economics, so just by screaming "rising cost of living" they will gain some supporters, even though it's not true.

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