Construction Sector
Positively Affected By
The Change in Exchange
Rate
The change in the
exchange rate of the
colon to the dollar of
the past several weeks
by the Banco Central de
Costa Rica (BCCR) -
Central Bank - will have
a positive impact in the
construction industry,
according to the
president of the Cámara
de la Construcción,
Jaime Molina.
The positive effect of
the reduction in the "bandas
cambiarias" set by the
Central Bank will mean
lower costs in
construction sector,
with lower import prices
for items like ceramic
tiles, floor finishings
and fittings, for
example.
Molina said that those
who are constructing or
remodelling their homes
will notice the
difference in the coming
weeks.
The exchange rate change
meant a reduction of
some ¢20 colones per
each US dollar, mainly
due to the weak dollar.
Molina assures that many
builders are now
reviewing their costs
and an increase in
construction projects
may be experienced
before any upward
changes may occur.
Another change that is
being notices, according
to Molina, are that
contracts are now being
made in Colones instead
of Dollars.
Molina added that there
will be a definite drop
in the price of imported
goods for the
construction sector in
the coming months and
that is good for the
economy. |
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