No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta RicaCosta Rica announces multi-million dollar investment to stimulate economy and jobs

Costa Rica announces multi-million dollar investment to stimulate economy and jobs

The Costa Rican government announced on Friday a public investment of $9.526 billion dollars as part of a strategy to boost the economy and reduce high levels of unemployment.

The investment will go to road, educational, airport and hospital infrastructure projects, as well as energy, health, safety and justice projects, said Minister of Planning and Economic Policy, Pilar Garrido.

“The most important national challenge is for Costa Rica to generate more jobs, grow more and improve the situation of all households,” said President Carlos Alvarado when presenting the National Growth, Employment and Welfare Strategy.

The plan was announced in times of concern about the weak growth of the Costa Rican economy and high unemployment rates.

Last July, the Central Bank revised downward the growth projection for this year, to 2.2% from an initial forecast of 3.2%, while unemployment reached 11.9% in the second quarter of 2019.

Garrido explained that, in addition to public investment, the strategy includes actions to stimulate private investment by streamlining procedures to open businesses and credits for small tourism businesses.

It also includes actions to promote the hiring of unemployed people and the simplification of procedures that make employment formalization difficult.

Trending Now

Nicaragua Places Bayardo Arce Under House Arrest Amid Power Struggle

The Nicaraguan government has placed historic Sandinista commander Bayardo Arce, economic adviser to President Daniel Ortega, under house arrest, according to exiled opposition members...

Costa Rica Fails to Meet Human Rights Standards for Deportees

The Ombudsman's Office has confirmed that Costa Rica was unprepared to provide adequate care for deportees who have entered the country since February. This...

Panama Farmer Receives Land Title After 60-Year Wait at Age 109

A 109-year-old Panamanian farmer has received the land title for the property where he lives and works—six decades after first requesting it from the...

Keylor Navas Leads Pumas to Victory in His Liga MX Debut

Keylor Navas kicked off his Mexican league journey with Pumas UNAM in style, leading the team to a 2–0 win over Querétaro at Estadio...

Malcolm-Jamal Warner’s Drowning in Costa Rica Ruled Accidental

The death of American actor Malcolm-Jamal Warner has been confirmed as accidental drowning, according to Costa Rica’s Judicial Investigation Agency (OIJ). Warner, 54, was...

Costa Rica Seeks New Air Routes Amid Decline in European Tourism

Costa Rica is working to increase the number of international flights entering the country, as it faces a concerning drop in tourist arrivals.  The...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica