The business sector is not optimistic about the direction of the economy, according to the latest quarterly business survey “Business Pulse”, prepared by the Costa Rican Union of Chambers and Associations of the Business Sector (UCCAEP), published on Wednesday.
According to the study, the expectation about the development of new businesses is not the most positive. When comparing the business confidence indicator of today (6.2) with that of a year ago (6.4) there is not much of a difference.
Employers are unhappy with the complicated situation of public finances due to a growing fiscal deficit and accuse the government authorities of a lack of concrete proposals to reactivate the economy and restore the competitiveness of the country.
It is obvious that the private sector is cautious and worried; especially when we have growth rates, which according to the projection of the Central Bank will reach 3.2%, that is, it is a stagnant economy that does not produce income for companies, neither for people, nor for the treasury,”
said Gonzalo Delgado, president of the Union of Chambers.
Nearly 60% of employers consulted by UCCAEP ruled out new investments in the coming months. Among the main obstacles to increase investments, they mention: excess of procedures (25%), high interest rates (16%), little access to financing (13%), citizen insecurity (11%), infrastructure (9%), legal insecurity (8%) and economic stability (7%).
On the call for national strike, announced by several trade union groups, Delgado expressed his total opposition, since he sees no valid motivation.
It is not fair that a strike be held, when most Costa Ricans have to wait for things to happen in order to defend their rights. Nothing has happened, no rights have been injured, and if this happens, there are formal spaces for complaints. It is not fair that there is a strike that affects the rest of the population,”
said Delgado.
In terms of public finances, the business representative explained that seven out of 10 employers believe the government should have a single salary policy for all government workers. In addition, 84% of employers believe that the approval of new taxes will be insufficient to fix the fiscal mess.
The Pulso Empresarial survey applied a survey to 389 entrepreneurs, between July 16th and 17th. The sample has a maximum error of 3% and a confidence level of 95%.