Economic Reactivation: Proposals from Businessmen

Reducing social security contributions, lowering the price of electricity and simplifying procedures in the country are part of the changes proposed by Costa Rica's private sector to reactivate the economy.

Monday, May 20, 2019

Representatives of different productive sectors agree that immediate actions focused on improving the performance of the Costa Rican economy should be implemented. According to the latest report of the Central Bank's Economic Activity, in March 2019 most of the economic activities moderated their growth with respect to the same month of 2018. See full report.

For the Costa Rican Chamber of Commerce (CCCR), the reduction of minimum social security contributions and better access to credit could improve the country's economic situation.

Also see "Businessmen Call for a Fast-Economic Recovery"

In the case of the Chamber of Industries (ICRC), lowering the price of electricity, allowing and promoting distributed generation, taking advantage of alternative sources such as geothermal and solar, as well as allowing the import of natural gas and refusing to block the possibility of its future exploitation in the country, would help reactivate the economy.

Francisco Gamboa, Executive Director of the ICRC, said to that "... the issue of energy must be addressed to reactivate the national economy. But there is also a need to simplify procedures and implement the laws of real estate guarantees and consortiums and take advantage of free trade agreements and the promotion of foreign trade. Exports outside the free trade zone are falling."

Businessmen in the agricultural sector also have proposals. Rigoberto Vega, vice-president of the National Chamber of Agriculture and Agro-industry (CNAA), explained that "... it is necessary to provide farmers with productive technologies and speed up the procedures for the registration of agrochemicals."

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