The objective of this article is to analyze the financial budget of Panamanian Households and its relationship with an Expanded Basket of Goods, for the period 2021. Updated and systematic quantitative data on the needs of the population and their families are addressed, and on the other hand, analyze the binding economic factors; There must be a balance between the two that allows adaptation to the context and continuous national development.
The analysis shows that Panamanian households allocate 17.7% of their budgets to food and 82.30% to satisfy the rest of their needs in terms of housing, clothing, health, transportation, education, recreation, among other spending groups; hence the importance of having timely official statistics for decision making. Taking into consideration the Household Income and Expenditure Survey and with the Engel coefficient we can obtain the Total Financial Budget that households need to satisfy their expanded needs, which is B/. 1,367.92 monthly in Panama.
