PANAMA

Panama

THE OFFICIAL SALARY IN PANAMA IN 2020:

Average salary – 1,422 Panamanian balboas per month ($1,422)

Minimum wage – 1.53 to 4.67 Panamanian balboas per hour ($1.53 to $4.67)

Source: Government of Panama and international recruitment agencies

Panama is a state located in Central and South America on the Panama Isthmus between the Caribbean Sea and the Pacific Ocean. It borders Costa Rica to the north and Colombia to the south.

INFORMATION ABOUT PANAMA (2020) 
Population 4.3 million
Average life expectancy  78 years
Unemployment rate 6%
Inflation 
Square 75 517 km²
Form of government Presidential constitutional republic
Income tax 0–25%
Capital Panama City
Currency Balboa, United States dollar
Official Language Spanish
Doing Business rank 86
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