President Carlos Alvarado presented a new economic recovery plan based on four strategic axes.
The government has assured that this initiative is ambitious but realistic and will focus on four areas: public investment, private investment, encouragement of hiring people and measures to take care of people’s pocket.
Again, Alvarado’s administration promises to work to activate the economy, after some measures were announced in June regarding simplification of procedures, among others.
“This plan is part of the responsibility of the Alvarado Quesada Administration with the country and that adds to other historical actions, such as the recent presentation of the budget for the year 2020, which decreases current expenditure without considering the payment of interests, while increasing infrastructure investment and also complying with the fiscal rule,”
said the president.
Axes of action:
Public investment. ¢1.73 billion will be executed in road infrastructure. Hospitals such as those in Puntarenas and Turrialba will be built, as well as schools and aqueducts throughout the country. To this end, public private partnerships and the concession of public works will be strengthened.
Private investment. Private investment that generate jobs will be promoted and facilitated. For example, the CCSS will have a new regulation to facilitate hiring in small businesses and ICE will present this year its plan to reduce the cost of energy. Also, for the agricultural sector there will soon be a simplified VAT regime and new pests that put it at risk will be combated.
Encouragement to recruit people. The conditions will be provided for people to get jobs. To this end, the number of scholarships to learn English will be expanded and the laws of dual training and teleworking approved by the Legislative Assembly will be implemented.
Measures to take care of people’s pocket. The bill that sets limits on the interest rate charged by credit cards to consumers will be supported. The balance of debt associated with the cards is around ¢ 1.5 billion.
Although the president made the announcement, the complete plan will be presented in the next few days.