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Novedades Laborales en Latam
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On May 5th, Panama elected José Raúl Mulino as its new president, succeeding Ricardo Martinelli, who had led in the polls. Mulino faces a challenging economic landscape, marked by a loss of investment grade, a significant increase in public debt amounting to $21.184 billion, and a substantial fiscal deficit. However, following the pandemic, Panama has achieved notable economic growth, with a low inflation rate of 1.26%, an unemployment rate of 8.8%, and a high GDP per capita.
The new administration is tasked with maintaining and improving these figures in 2024, with a projected growth rate of 2.5%. The appointment of Felipe Chapman as Minister of Economy is seen as a positive step. Additionally, in the labor sector, the new Minister Jackeline Muñoz will focus on the “My First Job” program and work with the National Migration Service to regularize illegal workers.
Article written originally for Andersen Newsletter, by:
Aldemara Jaén Arias
Associate
Panama
