Higher Cost of Living in Panama

These increases triggers Panamanians demands to increase the minimum wage in order to allow Panamanians to have a reazonable monthly income to face these drastic changes in the Economy, but the Companies and Business owners adduce that the workers must know to distinguish between " wished and what’s posible"
Mean while Panamanians are suffering trying living with what they get.

Most os the Panamanians believe that the cost of living have increased a lot in the last months and is going to be higher due to the increase of the Public Services in the last Months.
Employees and Business owners agreed that the increase in the public Services monthly Fees, such as electricity, water, telephones and transportation will cause an inflationary effect that will negatively affect the regular development of the country economic activities.
The increase of the electrical fee was the first one that surprised the Panamanians and later The Public transportation sector (Buses and Taxis) also claimed for an increase in the Collective and sellective transportation fees.

An increase in the electrical monthle fee will originate an increase in chain of all of the other services and products of the Family basic basket.
The situation is worrying for all the sectors of the country, since the economy of the country is rapidly growing.
The increase in the electrical monthle fee directly affects the Business sector; the first Institution Complaining about it was the Panama Chamber of Commerce, Industry, and Agriculture, stateing that it would create an inflationary effect that would seriously affect the national economy.

In the last months we’ve been experiencing a very high increase in the prices of fuels and other products, due to the fee adjustment decree presented by the government; this increase is worrying because it affects the industrial sectors that export their products in the Country.
The electricity costs are higher in Panama, than in Central and South America, which makes us less competitive in the energetic market.
The increase in the electricity costs already authorized by the Regulatory entity is going to affect the Industry and business sector, forcing them to level losses and most probably they will do it by reducing operational coast leaving hundreds of panamanians with out jobs.
The increase of the electricity cost is causing a direct increase in the products of first necessity as well as of the other basic services, reason why the economic situation of the poorest People in Panama will get worse

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