Panama Taking Crisis Medicine
(insidecostarica.com) Panamanian minister of Economy and Finances, Hector Alexander, called preventive medicine the measures being taken against the international crisis. During celebrations of Economists Day the official recalled that when he reached office the 2004 administration of the central government was in the red, and took 16 months to alleviate the situation.
During that time we were able to implement public policies to solve the problems but, unfortunately, we had to borrow money and invest valuable human resources and time to confront the responsibilities, he added.
In this manner, he explained that the executive had to generate savings to strengthen the capacity of investments and reduce dependence on loans.
He recalled that the economic growth achieved by the government allowed reducing unemployment and poverty as well as improving distribution of incomes.
Alexander pointed out that the employed population rose from 1.2 billion in 2005 to 1.4 last year with an average annual growth of 4.1 percent.
We did the right thing at the right time, because all governments must keep house and take preventive measures during times of bonanza to prevent the severe impact of a crisis such as this, he explained.
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Original Source: Inside Costa Rica
Date Retrieved: April 20, 2009
