Presidency Minister Rodrigo Arias this week pointed to construction statistics from the Costa Rican Construction Chamber (CCC) as evidence of a strong economy.
According to the chamber, construction in 2005 totaled 3.6 million square meters. Construction for 2006 has already exceeded that mark with 3.9 million square meters, Arias said Wednesday following the administration’s weekly Cabinet meeting.
Investment in construction from January to August this year increased 233.50% over the total investment during the same period in 2005.
Arias told reporters this shows increased investor confidence and reflects positively on the administration of President Oscar Arias, Minister Arias’ brother, who took office in May.
A little more than 2.7 million square meters, or 68.18% of the total construction this year, are new housing, the minister said. Increasing housing and eliminating slums has been one of the President’s top priorities since taking office.
Rodrigo Arias also touted the results of a recent World Bank study that ranks Costa Rica high on the list of Latin American countries in terms of fighting corruption, political stability, government stability and application of the law, among other factors.