Varela was very clear on prioritizing investments in Panama - for its productivity and need of infrastructure
- a good question would be --- what are Panama's priorities?
---translated from La Prensa, Panama
The current Minister of Economy and Finance of Panama, Frank De Lima, said that the figure of 19,500 million dollars of investment capacity derived from projections that put the economic growth rate between 6% and 7%, a tax revenue according to this expansion. This figure is above the estimated 15,000 million invested by the outgoing Executive headed, Ricardo Martinelli.

The Executive Martinelli, who took office in 2009, "the end will have invested about 15,000 million, excluding the expansion project of the Panama Canal. The next administration will at least have the financial ability to run between 30% and 40% of public investment, "said De Lima.
In a press conference at the headquarters of the Ministry of Economy and Finance, De Lima cited that there are at least three road projects and hospital infrastructure implementation which must end the Government of Varela and involve expenditures in the order of 1,900 million .
To this draft Metro line 2 of the capital, which is expected to be tendered and start construction later this year for an amount to be determined must be added, De Lima said.
The outgoing minister stressed that Panama "is the only Latin American country that is investing at levels of Asian countries", with a figure that in 2013 reached 4,000 million dollars in public investment, equivalent to about 10% of Gross Domestic Product (GDP).
That huge investment, which has led to an "improvement of public infrastructure" both roads, health, education and environment, while leveraged expansion of the economy, with rates even higher than 10% of GDP in recent years, De Lima said.
Those big projects, including the construction of the Metro line one of Panama for at least 1,800 million were also meant an increase in nominal public debt, which rose from 10,830 million in 2009 to over 17,000 at the close Last March, which has earned him harsh criticism during the Martinelli administration.
"What you need to do is what the debt is used (...) debt is growing at the bottom of what is growing the economy level, so the debt-GDP ratio has declined over the 5 year Government exceed 45% of GDP in 2009 to 36.5% in late 2013, "said De Lima.
Deputy Finance Minister, Dario Espinosa added that the weighted average cost of total public debt has alsofallen more than 6% in 2009 to 5.02% today.
Espinosa said the government debt with a maturity of three years amounted to 2,500 million, with a maturity of 5 years at 4.400 million.
"The next administration will have to repay debt or renovate a little over 4,000 million dollars, which is quite manageable under the current market situation and qualifications (risk) having Panama that allows you to access terms and Payment quite low financing, "Espinosa said.
De Lima stressed in this regard that the outgoing government of Martinelli "managed to get to Panama investment grade in 2010 from the three major rating agencies, the same as in 2011-2012 BBB improved, which is very positive."
"I think we left a country that we have changed the face in these 5 years and hope to continue this path of public investment because after all what the infrastructure is to improve the productive capacity of the local economy," he added De Lima.
Organizations like the International Monetary Fund (IMF) and the Economic Commission for Latin America and the Caribbean (ECLAC) have an economic growth project in Panama at least 7% of GDP this year.
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