Welcome to the Panama Weekly News Roundup! Here’s the latest.
Panama slips into deflation in Sept., prices down 0.4 pct.
September’s economic numbers are out this week, and from the looks of it, the economy is rebounding as scheduled. Earlier this week, it was announced that consumer prices dropped by 0.4 per cent in comparison to last year. And while that may not seem like a lot, it’s confirming a trend that 2015 is set to rebound Panama’s economy from a 2014 chill.
Compared to the previous month, consumer prices fell by 0.4 percent in September, the statistics office said. An office spokesman noted that changes in prices partly reflected the fact that the base year for the calculation was changed to 2013 from 2002 beginning in November 2014. In February, consumer prices in Panama also fell by 0.4 percent compared to the year-earlier period.
Source: Reuters
Panama Canal Sets All-Time Tonnage Record in 2015.
The Panama Canal is getting busier, and it could not come at a more crucial time. With delays and damages hampering the opening of the expanded Panama Canal, ships are already increasing their volume of tonnage through the waterway. So much so, that in 2015, they set a new record.
The ACP reports that in 2015, a record 340.8 million ‘Panama Canal tons) (PC/UMS) passed through the Canal, marking an all-time record for the 101-year-old waterway. The spike represents a year-on-year increase of 4.3 percent. The Panama Canal’s 2015 fiscal year ran from October 1, 2014 to September 30, 2015.
The ACP noted that containerships registered the most total tonnage, followed by dry bulk, liquid bulk and car carriers. Compared to out segments, liquid bulk saw the biggest boost, reporting an increase of 23 percent, or 11.9 million PC/UMS tons, due to booming diesel, gasoline and propane exports from the U.S. Gulf Coast to South America and Asia.
Source: gCaptain.com
Metro drivers delay strike
After some tense moments this week, drivers of Panama’s Metro Bus system have decided to delay striking, pending a more agreeable solution. They have now given the government until October 23rd to respond to their requests, before they call a driver strike, which would be detrimental to the city’s transit system.
Negotiations on the issue broke down yesterday. Under an agreement that the drivers have with the Metro operator Mi Bus, they must wait for 10 days after talks end before going on strike. “If by the stipulated date there is no response, then we will hold the work stoppage,” the official said.
The unions say that 4,256 employees are owed $2.6 million. Minister of the Presidency Álvaro Alemán said that there is no reason for the drivers to strike. If there is a strike, he said measures would be taken to ensure service continues.
Source: La Prensa (English)
6 Ways for Visitors to Experience Panama on a Budget
Tourism in Panama is a huge part of the economy, and growing every year. And this means that more and more people on a variety of budgets want to come see what Panama’s all about. Many people want to see as much as they can, for as little as they can, and experience Panama on a reasonable budget. In our latest blog post, we give you six solid ways on how to do so.
1. Plan your Panama Trip During “Low Season” for Tourists
Because of a number of reasons (weather, winter up north, holidays), Panama has two distinct tourist seasons, locally known as “high season” and “low season”. High season runs from mid-November until about mid-April/May, and “low season” is considered the rest of the year, especially the summer and fall. But don’t let the title keep you away! There is still plenty to do during the “low season” and prices often drop by 30-40%. Everything from hotels, flights, tour groups, and fishing expeditions have reduced prices, less crowds, yet still maintain the same services as always.
Continue reading about visiting Panama on a budget.
