Home International Business COSTA RICA RECORDS LOWEST POVERTY FIGURES IN SEVEN YEARS

COSTA RICA RECORDS LOWEST POVERTY FIGURES IN SEVEN YEARS

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According to the United Nations, an increase in the average income of the population has resulted in a reduction of poverty levels by 1.2% in Costa Rica. Research conducted by the National Statistics and Census Institute, demonstrates that the change translates to 10,350 families who are no longer considered poor, raising the number of Costa Rican families above the poverty line from 307,270 households in last year’s survey to 317,660 this year. The decrease in poverty is attributable to three variables: a reduction in the country’s inflation rates, benefits granted by government subsidies and aid programs launched by public agencies such as the, The Inter American Development Bank, (IADB). INEC also reported that the average income for the wealthiest households in Costa Rica is almost 13 times higher than that of households with the lowest income levels.