Archives for June 3, 2016

The president of the Central Bank of Costa Rica, Olivier Castro, disagrees with an artificial devaluation of the colon against the dollar. Castro said a competitive exchange rate depends on controlling factors that affect productivity, such as fiscal deficit and a positive trade balance. The Central Bank is not responsible for rising unemployment, Castro said. […]

According to the extraordinary budget submitted recently to the Legislative Assembly, the government would cut expenses in 25,800 million. The biggest impact will hit ministries’ budgets: 19,491 million colones less than the original amount. Other major cuts would hit other government institutions that will lose 2,219 million colones. Pension expenses would also be reduced in […]

The Ministry of Science, Technology and Telecommunications (MICITT) is receiving applications for the implementation of financial grants to fund scholarships and research in science, technology and innovation. For this purpose, the ministry will allocate ¢211 million to the Incentive Fund and ¢400 million to PROPYME Fund. The Incentive Fund will assess projects involving professional qualification, […]

Otto Guevara, legislator from the Libertarian Movement, presented a bill to establish a cap on the salary of the president, ministers, deputy ministers, heads of department and senior officers. The proposal aims to impose a single remuneration to these officials, without bonuses or annuities. According to Guevara, there is a great gap in the salaries […]

The Ministry of Agriculture and Livestock (MAG) delivered $ 1,100 million allocated by the US Aid Agency (USAID) for the implementation of a Strategy for Low Carbon Livestock (EDGBC) in Costa Rica. These resources will be used for the promotion of protein and energy fodder banks to feed the national herd, as well as other […]

The Costa Rican Chamber of Food Industry (CACIA) organized a congress for “Trends that transform the modern food industry”, to be held on June, 7th, at the Wyndham Herradura Hotel. Mario Montero, executive vice president of CACIA, said the participants will analyze all economic, political, commercial and technological variables that affect the production and supply […]