Sunday 3 July 2022

Costa Rica Business Sector Calls For Kick-Start To Economy

In the next six months, it is crucial that the government focus its efforts on supporting areas that allow growth in the economy

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02 July 2022 - At The Banks - BCCR

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At the beginning of the second year of the administration of Carlos Alvarado, the low execution of the projects worries businessmen, who ask the government to prioritize, with the objective of achieving the economic reactivation that the country requires.

“In the next six months, it is crucial that the government focus its efforts on supporting areas that allow growth in the economy,” said Enrique Egloff, president of the Chamber of Industries. La Republica

The entry into force of the new taxes as of Monday, the historical unemployment – 275,000 people – and the distrust of the consumer, make necessary a change of rudder from Casa Presidencial (Government House).

It is that 58% of the initiatives raised by the government of Alvarado are in execution and only 5% have been completed, according to the analysis carried out by the Observatory of Compliance, a joint effort between the Costa Rican Chamber of Commerce (AmCham) and the Chamber of Industries of Costa Rica, with additional support from the Chamber of Information and Technology and the Association of Businesses of Free trade zones (Zonas Francas).

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Reviewed were the actions undertaken by Alvarado in taxation, education, employment, infrastructure, decarbonization and energy, in addition to trade, free zones, among other areas, resulted in few positive results.

For the business sector, the implementation of alternative plans, presented in recent months, causes difficulty to clearly visualize the course of the country.

We seek to analyze the route that the Government has been developing, and from there focus on the changes that, as a sector, we should consider, raise our priority areas, in order to reactivate all sectors and the economy of the country,” said Elías Soley, president of AmCham.

Entrepreneurs recognize the progress the Government has made in some areas, although they are not in the plan.

However, they urge to accelerate the pace this second semester and reactivate sectors that are lagging behind and that are indispensable.

“In the next six months, it is crucial that the government focus its efforts on supporting areas that allow growth in the economy and solve key problems such as the fiscal deficit, economic stability and employment generation,” said Enrique Egloff, president of the Chamber of Industries.

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Several actions must be prioritized, according to the business sector include:

  • Costa Rica’s entry process to the Pacific Alliance (Alianza del Pacífico)
  • Special work days
  • Reform to the minimum wage
  • Promote bilingualism
  • Opening of the electric market
  • Regulate well the Plan Fiscal
  • Contain spending
  • A fast passenger train and service sectorization
  • Construction of roads: San José- San Ramón, San José-Caldera and Route 32
  • A decrease in institutional barriers

Source: La Republica in Spanish

 

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