Finance Ministry to infuse cash into economy
Costa Rica´s Finance Ministry plans to invest about ¢350 million ($636,000) in the market to cushion the effects of the financial crisis.
About 45 percent of the money would be invested in bonds, 35 percent in no-interest bonds and 20 percent in other instruments.
The ministry revealed its plan for the first semester in 2009 on Friday, citing the impact of the current world economic crisis as its main concern.
The finance ministry announced a deficit in production for this year of 2.8 percent due to the deceleration in maintaining social programs, incomes and investment incentives nationwide.
In addition, the economic slowdown in liquidity and credit from numerous state and private banks is another consideration the ministry is trying to deal with.
Projects such as the $850 million transportation infrastructure improvements by Public Works and Transport Ministry and the $72.5 million Limón Port Project are among other plans for 2009.
In other news, the ministry announced it believes inflation this year will be 9 percent.
You may be interested
Adaptive surfing, part II: The story of Dean BushbyEllen Zoe Golden - May 22, 2018
A three-part look at adaptive surfing in Costa Rica. Read Part I here to learn how a Central Pacific coach is…
Costa Rica launches Pride Connection networkElizabeth Lang - May 22, 2018
As Costa Rica continues to grapple with the disagreements about marriage equality and gender identity that dominated the second round…
Costa Rica at a glance: top news from the past weekThe Tico Times - May 21, 2018
Newly inaugurated Costa Rican President Carlos Alvarado is closing in on two weeks on the job. Here are some of…