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Tourism Helps Pay Oil bill
Costa Rica is faring just like
any employee who gets a pay
raise but has to use the extra
money to pay for fuel, as a
result of the constant hikes in
the price of oil in the
international market.
During the first quarter this
year, the country received us$89
million more from tourism than
it did in the same period in
2004; however, it had to
dedicate those funds to pay for
the us$62 million increase in
fuels and lubricants.
The Central Bank pointed out
that the boom in tourism has
helped the stability of the
nation's finances, in spite of
the siege it is subject to by
oil.
Bank president Francisco
Gutierrez regretted the fact
that the fuel bill prevented the
use of the extra funds from
tourism in new investment or to
save them in order to support
other sectors.
William Rodriguez, who chairs
the National Chamber of Tourism
remarked that for the sector to
remain as a mainstay for Costa
Rican economy it is a must to
invest in public facilities.
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