Although other than the new highway under construction, there appears to be little activity in the construction sector in Boquete, the municipal is reporting an increase in building permits in 2010 over the previous year. These permits continue to be the main source of revenue for the district and the majority is driven by foreigners who come to live or invest in the area.
From La Prensa
Construction sector recovers in Boquete
Theophilus A. González
Boquete, Chiriqui
economí[email protected]
The partial reactivation of the construction sector and strengthening the service economy contributed to the recovery of the finances of the Municipality of Boquete, which grossed 1.8 million dollars in 2010.
Last year's budget was $ 1.38 million, but managed to collect only $1,282,050 dollars, reported Ivan Cheva, treasurer of Boquete, Chiriqui.
Cheva described as "satisfactory" fiscal 2010 performance and was confident that the boom in Boquete will recover to what it was in 2007, when they raised $1,475,282, $ 142,222 000 more than budgeted.
"While it is true that the construction, the main source of income for the region, has not yet been fully recovered, the service economy experienced significant growth, mainly in the hotel, the sale of food and retail," said Chev.
The construction of major public works such as the expansion of the David-Boquete-David, rehabilitation of roads of production and the development of electrification projects are positively impacting the economy of Boquete, the official said.
In 2010 the construction sector generated revenues of $428,310.
The activity of restaurants, cafes and snack bars represented a contribution of 13, 837, $1, 837 more than expected.
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