Government cites economic recovery

Casa Presidencial, perhaps as a prelude to the president’s state of the state speech next Monday, said that economic growth has allowed Costa Ricans to recover their confidence.

The government announcement Monday stopped short of taking credit for the economic growth, which is said was 1.7 percent of gross domestic product in 2013, 3.7 percent in 2014 and 3.7 percent in 2015. It said that the Banco Central estimated that 2016 would end with 4.3 percent growth.

The announcement based its statistics on the monthly index of economic activity.

Casa Presidencial also said that the government has instituted a new system to stabilize the exchange rate with the U.S. dollar. The exchange has been about 530 colons to the dollar for more than a year.

The announcement also said that the economy added 13,000 new jobs. The consumer confidence index done monthly by the Escuela de Estadística of the Universidad de Costa Rica had reached 39.7 points compared to the previous six months where the index was 31.6.

President Luis Guillermo Solis will make his annual speech to lawmakers and diplomats Monday. Such speeches usually are optimistic.

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