Mulino, Panama economic outlook for the next five years after choosing a new president

The Mundo team is excited since Panama has chosen a new president. From July 1st, Mulino, Panama new head of state, is leading the nation. As promoters of financial freedom and this country as one of the main hubs for global investors, at Mundo, we care about the economy of Panama and its prospects for the future. Panama new president has five years to show what he can do to lead the country of the canal into a brighter future.

Panama City, Panama economy, Panama economic outlook for this president’s term

When it comes to Panama economic development it's vital to analyze what's going on in the political sphere. The Mundo editorial team decided to pen this piece based on our experts' insights into the matter. 

The new president started on the right foot by appointing a good team to run each ministry and department. A strong point in his favor is that he didn't make any promises, except for the commitment to foster Panama economic growth and general development.

His strongest project is the construction of a train from Panama City to Chiriqui. Both are important centers for the country, and they constitute pillars of the country’s economy. 

Chiriqui is right by the border with Costa Rica and it’s famous for having cooler weather and mountain landscapes, unlike Panama City which presents the feel of a typical Caribbean modern metropolis. Actually, the capital has been compared to Miami City on many occasions.

Therefore, a train connecting these strategic points is a plus for Panama economic growth and good news for sectors like tourism. By bus, it takes eight hours to travel from Panama City to Chiriqui and the train promises a five-hour trip at the most.

Since the country is not in its best shape financially, according to the previous leaders, all hopes are put on Mulino, Panama new president. In line with this, he promotes responsible management and a healthy austerity. For example, he intends to take away privileges that cause unnecessary expenses. Politicians will no longer have benefits like cars or drivers supported by the state. 

Such measures surely help reduce costs which can be put to a better use, for example, for boosting Panama economic growth.

Previous projects to be continued in the new term: Panama new president challenges

However, no new president finds a blank page, instead, they must carry the burden of previous policies and government models. In some cases, they inherit the responsibility of continuing with important projects. For Mulino, Panama represents a field blossoming with new opportunities. Some projects are pending and about to be concluded like the new bridge over the Panama Canal, important new corridors, and line 3 of the metro, projects that Mulino will have to take into conclusion.

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Panama economic outlook: new people, fresh ideas

Another strong argument in favor of Mulino is that he appointed new people at the National Assembly aiming at reducing corruption and thus helping Panama economic growth. He's open to negotiation and dialogue, two important features of any democratic government. In Mundo's view, this can make a difference in the long term especially when it comes to dealing with the opposition.

New hopes for Panama economic growth: what to expect in the short and long terms

After consulting with our Mundo experts, we conclude that changes and improvements in Panama economy are to be found in the long term. For instance, this year, Mulino will have to operate on last year's budget, a fact that may be limiting. On the other hand, this will provide him and his team with enough time to set up a solid plan for the following years which will be decisive both for Panama new president and for Panama economic growth. 

Why we should care about Mulino, Panama new president 

We have referred to Panama several times as a jurisdiction that ticks all the boxes in the sense that it covers several, separate needs. Being a global investor or a perpetual traveler in the modern world is no picnic due to the increase in international regulations and control. 

On the other hand, in our century, the globalized economy supported by the digital era can be our best ally since it provides access to a wide network of partners and interconnected services. In this sense, the country of the canal and Panama economic outlook become essential. Here there are a number of smart policies and tools that, combined, can provide the perfect solution. 

Furthermore, they can be enhanced and strengthened by resources in other countries like Nevis, with its ultimate trust legislation, Puerto Rico and USA, with their unique banking conditions, and diverse island nations offering citizenship by investment.

All in all, Mundo has his eyes set on Panama and Panama new president. We see this jurisdiction as a solid hub for business and international operations. Nobody can predict the future, but Mundo finds in the new president a great opportunity for the economy of Panama. Everything points to a more transparent, sustainable Panama led by a responsible and organized leader. With this, there's nothing more to say than simply “time will tell”. 

Disclaimer: this article reflects Mundo's editorial opinion on Panama new president. This article does not contain a formal economic investigation of Panama economic outlook. Therefore, we recommend conducting your own research and consulting with a trusted advisor before making important investments in Panama or any other country.

Mundo believes in Panama economic growth

We are connected with this country as we have many members of our team living here for years. Thanks to this, we have been able to plant, nurture, and grow meaningful connections with lawyers, experts, developers, and financial advisors in Panama and other regions.

Here we can't promise you to find the perfect place, but we can promise you'll find outstanding tools like free zones, strong incorporation, solid banking, high-end real estate, and modern residency solutions.

All of these can be improved thanks to Mulino, Panama new president, and we have five years to understand his influence in one of the most promising economies in the region. 

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