The best remaining stands of tropical hardwoods are in protected parks and forest reserves. Support also aims to improve competitiveness of rural supply chains. An array of analytical work has been completed in recent years, among others, a case study known as Primary Health Care Achievements and Challenges within the Framework of the Social Health Insurance, the Costa Rica Social Sector Expenditure and Institutional Review, research series on green and inclusive growth, a working paper titled A Behavioral Approach to Water Conservation, and a gender assessment. The results of this RAS are used by the Government to develop a medium and long-term strategy to enhance sustainability and equitable access to services provided through the social health insurance. Economic growth rebounded from -0.9% in 1996 to 4% in 1997, 6% in 1998, 7% in 1999. Environmental and climate change interventions continue to be supported through trust funds, such as the Forest Carbon Partnership Facility, Costa Rica’s REDD+ strategy, and Partnership for Carbon Market Readiness (PMR). October 12, 2020 The government has supported socialist policies for decades. Costa Rica is a well-known coffee producing region , while pineapples, bananas, sugar, beef, and ornamental plants also contribute to its economy. In the 1970s immigrants mainly came from Argentina, Chile, and Colombia. November 3, 2020. The economic crisis caused by the COVID-19 Pandemic and the fiscal situation of Costa Rica require green, resilient and inclusive solutions that consider both the well-being of people and nature. Palm oil for domestic consumption is an important product from the southern Pacific lowlands. The following trusts support this undertaking: the Spanish Fund for Latin America and the Caribbean, the Korean Fund for Sustainable Growth, the Alliance for the support of the National Determined Contributions (NDCs) achievement and the Energy Sector Management Assistance Program (ESMAP). Regarding energy and transportation electrification, the World Bank supports the initiative to transition towards an energy model that optimizes the use of native resources. The GDP value of Costa Rica represents 0.05 percent of the world economy. Costa Rica car rental bookings at the best prices in the market. Cooperation includes a health loan in the amount of US$420 million to support the efforts of the Government to improve the availability and quality of the universal health insurance system. The economy contracted 0.7% in 2009, but resumed growth at more than 3% in 2010. Environmental and Social Policies for Projects, Primary Health Care Achievements and Challenges within the Framework of the Social Health Insurance, Costa Rica Social Sector Expenditure and Institutional Review, research series on green and inclusive growth, A Behavioral Approach to Water Conservation. Through Disaster Risk Management (DRM) programs, Costa Rica’s preparedness to respond to disasters has further improved with risk reduction and prevention programs. Under the Program for Results mode, objectives such as the reduction of waiting lists and the care of chronic diseases have been met. Since 2010, Costa Rica has enjoyed strong and stable economic growth - 3.8% in 2017. The surrounding countries had made huge fortunes by focusing on cash crops such as sugar or tobacco, and after indep… The WBG is also working toward a green and inclusive growth of the rural territories through mainstreaming sustainable management practices and decision-making support systems in “productive landscapes”; in other words, those territories that are productive both for their natural beauty and, also for the activities developed in them (agricultural, forestry, fisheries, tourism, and others). The estimated GDP for 2017 is US$61.5 billion, up significantly from the US$52.6 billion in 2015 while the estimated 2017 per capita (purchasing power parity) is US$12,382. In addition, support is provided to enforce a Sustainability Protocol at the Reventazón Hydroelectric Plant of the Costa Rican Institute of Electricity, an international example that proves it is possible to develop hydroelectric projects applying the industry´s best environmental and social practices. Tilapia fish farming, which grew significantly in the 1990s, has made Costa Rica the principal supplier of tilapia to the United States. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Various industrial and processed agricultural products have broadened exports in recent years, as have high value-added goods, including medical … As general prosperity and urbanization increased, however, the population growth rate decreased despite a drop in both the general and infant mortality rates. Costa Rica’s well-populated heartland, formed in and around the upland basin known as the Valle Central or Meseta Central, is devoted to the cultivation of coffee, one of the country’s most important exports. Life expectancy in Costa Rica is substantially longer than in most other Central American countries and is more comparable to life expectancies in developed countries. However, the country faces many downside risks, including weakened government finances to face maturing debt, social unrest due to the proposed measures to try to secure a USD 1.75 billion IMF loan, and uncertainty over the course of the pandemic. The Economy of Costa Rica Economy - overview: Costa Rica's basically stable economy depends on tourism, agriculture, and electronics exports. Now the Costa Rican economy and employement strongly depends on the quantity of microprocessors that are sold internationally each year. European immigration and customs have helped to mold Costa Rican history and influence its character. T he Costa Rica Tourism Board (ICT) on Thursday presented the steps it’s taking to reactivate the sector in context of the coronavirus pandemic. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. Costa Rica has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. However, in the 1980s immigrants and refugees arrived from nearby countries. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. Exports of bananas, coffee, sugar, and beef are the backbone of its commodity exports. Based on this CPF, the WBG is supporting the Government’s efforts to bolster fiscal sustainability, increase the efficiency of its fiscal management, and strengthen its capacity. The emphasis in the economy has been placed on the governmental promotion of human development and welfare, while still allowing private companies to operate in some industries. (QCOSTARICA) Unemployment in Costa Rica reached 20.1% in the months of March, April, and May 2020, driven by the health measures taken to contain the outbreak of the new coronavirus. Exports of bananas, coffee, sugar, and beef are the backbone of its commodity exports. Economic problems and political and armed conflict in Nicaragua and other Central American countries drove thousands of refugees (mainly mestizos) into Costa Rica, altering the ethnic composition of the country. Costa Rica’s economy has enjoyed solid growth since it recovered from the global economic crisis. COVID-19 Information Last updated: 12/08/2020 Country-Specific Information: Costa Rica has a total of 147,430 confirmed cases of COVID-19 since March 2, 2020. Furthermore, last June a US$300 million loan was approved to support Costa Rica’s Government program to protect people’s income and jobs from the impact of COVID-19 (Coronavirus), benefit small and medium enterprises (SMEs), reinforce fiscal sustainability in the aftermath of this health crisis, and to lay out the foundations for a strong post pandemic recovery by promoting green growth and low-carbon development. 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