Former Minister Latorraca: ‘If quality services are provided, more people will join social security’

The economic recovery of the country seems to be stagnant, as well as the generation of jobs, which has caused thousands of Panamanians to turn to informality from the Covid-19 pandemic to the present.

For the former Minister of Economy and Finance, Domingo Latorraca, this informality is a reality that not only affects us as a country, but it has not been possible to generate tangible incentives for some of the informals to formalize.

He considered that the State can unite with the private sector and design very specific measures to facilitate the formalization of the informal sector, and for more people who are working individually to join social security.

Latorraca revealed that in Panama, more than 80% of the population is covered by social security.

“If this instruction could, through the review of its management model for the provision of medical services and medicines, provide a quality service, I believe that this would serve as a great incentive for people to join social security, because the quota that is paid is very reasonable for the provision of service, but the services have to be effective,” said the former official.