Costa Rica records US$173 million fiscal surplus through April

Costa Rica recorded a fiscal surplus of US$173 million in the first four months of the year, providing the government with more funds to invest in security and agriculture, Finance Minister Guillermo Zúñiga said.

Thursday, May 15, 2008

Thanks to the surplus, Costa Rican will face no problems in achieving its state spending objectives for this year, Zúñiga said. Besides agriculture and security, more funds would also be available to fight poverty.

More on this topic

Costa Rica had a 2007 surplus

January 2008

For the first time in more than five decades, Costa Rica ended 2007 with a fiscal surplus of $173.5 million, equivalent to 0.65 percent of gross domestic product,the Ministry of Finance reported today.

Guillermo Zuniga, minister of this portfolio, explained in a press conference that this surplus is due to a strong increase in the collection of taxes, which this year totaled 4,105 million dollars, 28.5 percent more than in 2006.

Fiscal Deficit Increases in Costa Rica

May 2009

The finances of the Central Government of Costa Rica continued to show a marked deterioration. Up to and including April, the financial deficit stood at $222 million.

In the first quarter of this year, the results of the accounts of the Central Government showed a decline of 8.5% in revenue over the same period in 2008.

Moody's upgrades Costa Rica's sovereign ratings

September 2010

Moody's Investors Service has upgraded Costa Rica's government bond rating from Ba1 to Baa3. The outlook, which had been positive, has been revised to stable.


The main drivers for the upgrade are:

1) Our expectation that key government debt metrics will continue to be

Tax Collection in Panama Up 13%

February 2011

Government revenue during January 2011 totaled $ 332.8 million, $ 37.6 million more than the same period of 2010.

Tax revenues reached $ 264.5 million, an increase of $ 52.5 million (24.8%) over January 2010.

Regarding indirect taxes, revenue was $ 169.5 million, a net increase of $ 52.8 million (45%) over the same month last year.

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