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