Costa Rica to Finance 45% of its Budget with LoansUncertainty about approval of the tax package in the National Assembly makes the national debt situation unsustainable.Friday, September 2, 2011
The General Budget of the Republic for the Fiscal Year 2012 was presented by Finance Minister Fernando Herrero, who admitted that 45% of the $11,500 million to be financed will be provided by issuing public debt. Source: elfinancierocr.com ¿Busca soluciones de inteligencia comercial para su empresa?Costa Rica: Ratings Agencies Insist on Fiscal AdjustmentApril 2015 Fitch, Moody's and Standard & Poor's are once again warning of the need to generate more revenue and cut public spending in order to avoid "negative consequences for ratings." El Salvador: Legislators Vote No to Tax ReformMay 2014 The opposition in the Assembly is calling for government approval of the bill on fiscal responsibility before approving the issuance of debt of $1.15 billion and a proposed tax package. Costa Rica Ends 2011 With Fiscal Deficit of 5.6%December 2011 This will be the second consecutive year that Costa Rica has the highest fiscal deficit in the region. The Risks of an Uncontrolled Fiscal DeficitJuly 2011 Increased public spending in Costa Rica, especially in the payment of wages, has become a threat to the entire economy and should be corrected by cuts or higher taxes.
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