$62 million for infrastructure in Costa Rica

Costa Rican municipalities will have the funds available for infrastructure development that they are are not executing, the ministry of the Presidency reported.

Thursday, January 8, 2009

According to nacion.com "We have to get motivated to start the works that have been budgeted for, because the monies are available for this. What is lacking is faster coordination in being able to spend these resources," added Rodrigo Arias, minister of the Presidency.

"The municipalities do not have the money. It is at the State's single cashier. Whenever statements are made, they don't say that. The funds are not in the treasury of the muncipalities and a long and sometimes contradictory procedure has to be followed," the executive director of the National Union of Local Governments (UNGL), Guiselle Mora, warned."

More on this topic

Costa Rica and the Effects of an International Crisis

September 2011

A report by Aldesa analyzes the effects for Costa Rica of a potential international crisis.

According to Aldesa:

During this week the market has been permeated by an air of positivity due to expectations that European authorities will solve the problem of the debt crisis. However, if more events occur, there would still be risks for the global economy that could trigger a slowdown in the U.S. and Europe.

Costa Rica Cuts Growth Outlook to 0.5%

March 2009

The Government of Costa Rica announced that the economy will grow between 0% and 0.5% in 2009

Rodrigo Arias, Minister of the Presidency of Costa Rica, announced the new estimates, which represent a considerable decline from the previous official estimates which had put growth at 2.2% for 2009.

Costa Rica to present plan for dealing with crisis

January 2009

The government will present a package of measures today which include economic assistance for those who have lost their jobs.

Nacion.com reports: "The requirements, the amounts, and the duration of the benefits are details that will be announce when the president presents the economic measures to deal with the effects of the crisis."

"Government should intervene whenever they have to"

October 2008

The president of the El Salvador Stock Exchange explained his vision about the financial crisis in the US and its root causes: lack of efficient supervision.

Rolando Duarte Schalegeter has been the president of the Exchange since 1999. This entity, in which all buying and selling of stock are carried out and the offering of public debt by the Government, is recognized as one of the region's most modern, and has headed the process of integrating regional capital markets along with Costa Rica and Panama.

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